Norway first began the commercialized farming of trout (Oncorhynchus mykiss) in its ice-cold fjords in the 1960s, the same time as it began farming Atlantic salmon (Salmo salar). While Norwegian salmon has evolved into a global product, accounting for the lion’s share of total salmon consumption worldwide, the country’s fjord trout has remained relatively niche by comparison. On closer inspection, though, many markets have been opening up, and perhaps the biggest facilitator of this trend has been the ongoing Russian import ban, explains Jack-Robert Moller and Morten Lindrupsen of the Norwegian Seafood Council (NSC).
SeafoodSource: In volume terms, how much fjord trout is Norway currently producing per year? Of this total, how much is being exported and what is the total value of these exports?
Moller/Lindrupsen: Norway is producing approximately 70,000 metric tons (MT) WFE (whole fish equivalent) of Norwegian fjord trout and this has been stable for the last five years. Around 85-90 percent of this is being exported, achieving a total value of NOK 2.3 billion (USD 279.9 million, EUR 249.2 million) in 2015. For the year to date (up to August 2016), the export value of Norwegian fjord trout was NOK 2.6 billion (USD 316.4 million, EUR 281.7 million).
SeafoodSource: In volume terms, what are the main markets for Norwegian fjord trout and where is the most growth being seen?
Moller/Lindrupsen: Russia was the main market for Norwegian fjord trout – importing around 45-50 percent of Norway’s total exports. Since the import ban from Russia in August 2014, Norwegian fjord trout has been exported to many more markets (see graph below showing the 10 biggest markets for Norwegian fjord trout for the YTD August 2016). The biggest growth markets for YTD August 2016 in volume were the United States, Thailand, Ukraine, Japan, Denmark, Turkey and Poland etc. The product has now diversified across many markets and is not dependent on Russian imports.
SeafoodSource: How many Norwegian seafood companies are producing and exporting fjord trout and who are the main players?
Moller/Lindrupsen: The biggest Norwegian exporter and producer is Leroy Seafood. The other big exporters are Coast and Seaborn.
SeafoodSource: What are the overall export forecasts for Norwegian fjord trout this year and 2017
Moller/Lindrupsen: The production of Norwegian fjord trout is stable at around 70,000 MT yearly. However, the annual supply can vary depending on frozen inventory, which will increase the 2016 volume.
SeafoodSource: How much large trout is being produced globally per annum and who is Norway’s main competitor?
Moller/Lindrupsen: The biggest producer of large trout is Chile, which is Norway`s biggest competitor. However, Chile has reduced is volume considerably over the last couple of years – from 230,000 MT in 2012 to 100,000 MT in 2015, and the forecasts for this year and further ahead are even less. The lower production in Chile is due to biological issues, increased mortality and higher production costs.
SeafoodSource: Is fjord trout performing best in retail or foodservice?
Moller/Lindrupsen: This varies depending on the market. In Asia and Russia, fjord trout performs well in both retail and Horeca (hotel, restaurant and catering). In Germany the product appears more in the Horeca sector. The introduction of a new species like fjord trout will always be a bit more challenging in retail since the product can be seen quite close to salmon and in the short window you have to communicate with the customer, it seems difficult for the customer to understand the difference. In the restaurant sector it’s different; you communicate with professionals who understand the story and the product immediately.
SeafoodSource: How have trout prices compared with Norwegian salmon this year?
Moller/Lindrupsen: They are best illustrated by the graph below.
SeafoodSource: What are its main opportunities and obstacles in the marketplace for fjord trout as a product?
Moller/Lindrupsen: The main opportunity is introducing a new premium species in the red fish category. Many chefs look for alternatives in this category, lately fueled by the price increase for salmon. This gives us a good platform. The main obstacles are related to the trout category being ruined by the small, low-priced and low-quality brown trout, which is farmed in muddy waters around Europe. This means we need to communicate well when we introduce fjord trout to customers in the United Kingdom, for example.
