The seafood industry in Norway has forecast record export earnings in excess of NOK 90 billion (USD 10.3 billion, EUR 9.9 billion) for 2016 as a whole, with salmon once again leading the way.
According to figures published by the Norwegian Seafood Council (NSC), Norwegian seafood exporters shipped 2.3 million metric tons (MT) of seafood worth NOK 83.2 billion (USD 9.6 billion, EUR 9.2 billion) in the first 11 months of this year, representing a 7 percent decrease in volume but an increase in value of almost 20 percent compared with the corresponding period of 2015. Of this, the country’s salmon exports amounted to 890,000 MT worth NOK 55 billion (USD 6.3 billion, EUR 6.1 billion). This represented a volume decrease of 5.1 percent but a value gain of 30 percent year-on-year.
The lower salmon volumes and high demand have led to historic high prices throughout 2016. Last month, the average export price for whole fresh salmon was NOK 61.90 (USD 7.11, EUR 6.81) per kg, up from NOK 44.86 (USD 5.15, EUR 4.94) in November 2015.
NSC said that while there was a decline in the volume of salmon shipped to major consumer markets such as Spain and Sweden last month, exports increased to markets with a significant processing industry, such as Poland and Denmark.
Volumes to the United States also increased, said the council.
