Norway exported 246,000 metric tons (MT) of farmed Atlantic salmon worth NOK 15.8 billion (USD 2 billion, EUR 1.6 billion) in the first-quarter of this year, which represented a 6 percent increase in volume but a 1.5 percent or NOK 240 million (USD 30.7 million, EUR 25 million) reduction in the value of the trade compared with the same period of 2017.
The Norwegian Seafood Council (NSC) highlighted that while the average price of fresh whole salmon for last quarter at NOK 61.11 (USD 7.83, EUR 6.37) per kilogram was lower than the NOK 65.43 (USD 8.38, EUR 6.82) achieved a year previously, prices are trending upwards.
"A strong growth in salmon prices in recent months means that we are optimistic about the further development of seafood exports for 2018,” said Paul Aandahl, analyst with the NSC. “For example, the average price in November for fresh whole salmon was NOK 50.50 (USD 6.47, EUR 5.27) per kilogram. In March, this had risen to NOK 67.59 (USD 8.65, EUR 7.05) per kilogram. High campaign activity in large markets such as France, Britain and Italy in combination with a strong Euro has contributed to a price boost for salmon."
The average export prices in January and February were NOK 57.10 (USD 7.31, EUR 5.95) and NOK 58.52 (USD 7.49, EUR 6.10) per kilogram respectively.
Poland, France and the United States were the largest markets for Norwegian salmon in Q1 2018.
Norway also exported 9,800 MT of trout with a value of NOK 633 million (USD 81 million, EUR 66 million) in the last quarter, with the volume up 14 percent and the value down by 6 percent or NOK 43 million (USD 5.5 million, EUR 4.5 million) compared with Q1 2017.
Belarus, the United States and Poland provided the main markets for Norwegian trout over the last three months.
Overall, Norway’s total seafood exports for the last quarter fell by 8 percent in volume and 2 percent in value year-on-year to 676,000 MT and NOK 23.7 billion (USD 3 billion, EUR 2.5 billion).
