Norway exported farmed Atlantic salmon worth NOK 5.3 billion (USD 645.8 million, EUR 598.7 million) last month, an increase of 25 percent or NOK 1.1 billion (USD 134 million, EUR 124.3 million) compared with January 2016. In volume terms, this trade amounted to 70,100 metric tons (MT), which was 2,700 MT less than a year ago.
While the value of Norwegian salmon exports continued to grow last month, the Norwegian Seafood Council (NSC) highlighted there had been a 5,400 MT decline in sales to Europe.
NSC’s Communications Director Geir Havard Hanssen confirmed that the start of the 2017 seafood year had been marked by a reduced supply of salmon from Norway and continuing high prices.
It helped that less salmon has been sold in Europe, while more salmon is en route to U.S. and Asian markets, he said.
Export prices have continued to climb – reaching an average of NOK 72.37 (USD 8.82, EUR 8.17) per kg for fresh salmon last month, thereby eclipsing the NOK 69.36 (USD 8.45, EUR 7.83) paid in December last year, which had been the previous highest average price ever recorded for a single month.
In terms of markets, Poland, France and Denmark were the biggest importers of Norwegian salmon last month. But reduced availability and high prices have impacted the supplies in key European export markets. In Spain, for example, salmon has been displaced at the fish counter by other species.
The high prices have also contributed to a greater proportion of packaged or processed salmon being exported to Europe.
“We see examples of products [of] fresh salmon in Germany that has risen by nearly 30 percent since October 2016. Prices have been as high as NOK 300 (USD 36.55, EUR 33.89) per kg for pre-packaged salmon. Meanwhile, price increases in several markets have not yet been fully passed on to consumers,” said Paul Aandal, NSC’s salmon analyst.
While salmon exports to Europe are in decline, Norwegian salmon has been strengthening its position in the United States and taking market share in what is a “growing market,” said NSC. New salmon products have been launched in cooperation with a number of major supermarket chains, which has contributed to a 30 percent increase in export volumes.
The value of these exports increased by NOK 155 million (USD 18.9 million, EUR 17.5 million) compared to January 2016.
