October 22, 2019

 

 

Norway exported 1.8 million tonnes of seafood worth NOK76.2 billion (US$8.35 billion) in the first nine months this year. While volume decreased 7%, export value increased by 8% or NOK5.5 billion compared with the same period last year, the Norwegian Seafood Council (NSC) said.

 

All the key seafood species have seen growth in export value in 2019, with salmon -- Norway's most important species for seafood exports—posting the largest growth with an increase of NOK3 billion, or 6% as of end-September.

 

In September alone, Norway exported 109,000 tonnes of salmon worth NOK6.1 billion ($664.4 million). This is a volume increase of 24%, while the value increased by 7% or NOK412 million.

 

In the first nine months, Norway exported 806,000 tonnes of salmon worth NOK52.3 billion ($5.7 billion). This is an increase in volume of 6%, while value increased by 6% or NOK3.1 billion from the same period last year.

 

Globally, there is still strong growth in demand for Norwegian salmon, as per NSC.

 

A weak Norwegian kroner has also continued to contribute to the total increase in exports, said Tom-Jørgen Gangsø, director of market insight and market access with the NSC.

 

The average price for whole fresh salmon in September was NOK50.08 ($5.46) per kilogramme, compared with NOK60.96 ($6.64)/kg in September 2018.

 

"There has been strong volume growth from both Norway and other salmon-producing nations into the market. That increase in supply is the main reason why salmon prices in 2019 are somewhat below last year's level", explained Paul T. Aandahl, seafood analyst at the Norwegian Seafood Council (NSC).

 

So far this year, Poland, France and Denmark have imported the most salmon from Norway.

 

      Image: Norwegian Seafood Council