Norwegian salmon prices slip despite upturn in French trade

Norway exported salmon worth NOK 3.5 billion (EUR 399.8 million; USD 450.4 million) last month, which was the same value achieved in May 2014, but to achieve this total it exported 4 percent greater volume at 84,739 metric tons (MT), according to the latest analysis from the Norwegian Seafood Council (NSC).

”The salmon market has developed broadly as expected following the exclusion of Norwegian salmon from the Russian market,” said Bjørn-Erik Stabell, the NSC’s marketing manager for salmon. ”Exports to Eastern Europe have returned, increasing exports to core markets within the EU. Particularly pleasing is the positive development of the largest export market France. This is a market that has seen a negative trend in recent years, but that trend has now reversed.”

For the first five months of this year, Norway’s salmon exports totaled 408,000 MT, an increase of 7 percent year-on-year. This volume achieved a value of NOK 18.1 billion (EUR 2.1 billion; USD 2.3 billion), up NOK 97 million (EUR 11.1 million; USD 12.5 million) on the corresponding period of last year.

The average price achieved for fresh whole salmon last month was NOK 38.47 (EUR 4.39; USD 4.95) per kg, down 5 percent on May 2014. Furthermore, salmon prices in May were 4 percent lower than the average price achieved in April.

In terms of markets, Norway exported salmon worth almost NOK 2.7 billion (EUR 308.4 million; USD 347.4 million) to the EU in May, an increase of 9 percent year-on-year. Exports by volume to the bloc reached 65,504 MT, an increase of 14 percent compared with May 2014. Poland, France and the United Kingdom were the largest export markets in the EU for Norwegian salmon in May.

For the same month, the value of exports to Asia increased by 6 percent to NOK 521 million (EUR 59.5 million; USD 67 million). This was mainly attributed to a 13 percent increase in volume to 1,331 MT.

Exports to the United States totaled NOK 180 million (EUR 20.6 million; USD 23.2 million), up 13 percent year-on-year, thanks to 35 percent more volume going to the market.
Meanwhile, trout sales achieved NOK 157 million (EUR 17.9 million; USD 20.2 million) last month, a decline of 22 percent or NOK 45 million (EUR 5.1 million; USD 5.8 million) compared to May 2014. This was mainly due to a 15 percent drop in the exported volume to 3,760 MT.

Belarus was Norway’s largest export market for trout, taking 1,107 MT, an increase of 131 percent compared to May 2014.


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