November 5, 2022

Norwegian salmon exports break new record for a single month

Salmon exports from Norway broke a new record in a single month, reaching NOK 731 million (~US$71 million; NOK 10 = US$0.97) higher in value in October 2022 compared to the previous record month of September this year, Fish Information & Services reported.

In October, Norway exported 133,105 tonnes of salmon for NOK 10.6 billion (~US$1.02 billion). Compared to October 2021, the export value grew by NOK 2.7 billion (~US$262 million), or 34%.

Paul T Aandahl, a seafood analyst for the Norwegian Seafood Council, said this was due to the value of Norwegian krone depreciating, export volume rising, and have increased salmon processing in Norway.

Aandahl said salmon fillet goods account for about 15% of exports in October if converted to round weight, up 1% from last year, and the proportion is 16% so far this year, also up 1%.

When compared to the same month last year, Poland had the biggest increase in value with exports to the country up 41%, or NOK 472 million (~US$45.8 million). 23,460 tonnes were shipped to Poland, a 9% increase over the same period the year prior.

Aandahl said a strong dollar exchange rate and growth in demand contribute to the US being the second largest growth market for salmon, with a value gain of NOK 458 million (~US$44.5 million), or 86%.

Norwegian trout exports also increased. 5,019 tonnes of trout worth NOK 465 million (~US$45.1 million) were shipped in October this year, NOK 75 million (~US$7.2 million) higher or 19% up year-on-year. Volume of exports dropped 18%.

The biggest markets for Norwegian trout are the US, Thailand, and Japan.

-      Fish Information & Services