Norway expects seafood exports to hit record €10.5 billion by end of year

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Incredible numbers from Norway. 

Norway exported two million tonnes of seafood to a value of EUR 7.5 billion so far this year. With a volume increase of 174,000 tonnes ie. eight percent, and with a value increase of EUR 243.4 million when against compared to the same period last year. Norway looks like it may just edge past EUR 10,5 billion in seafood exports by the end of the year.

In September Norway exported 160,000 tonnes of seafood worth EUR 814.7 million. A 21 percent decrease in volume, while the value fell by four per cent or EUR 32.4 million from the same month last year.

“So far this year we have exported NOK 71 billion (EUR 7.5 billion) in the entire seafood category. This is driven by a good price for cod and an increase in salmon volume. At the same time, the currency effect has overall been positive for Norwegian seafood exports in 2018. This indicates that 2018 will be a record year. If we are going to pass the “magic border” of 100 billion export values ​​this year, the value of salmon will be significantly higher for the fourth quarter, compared with the same period last year. At the same time, an exciting herring and mackerel season is meeting potential growth potential, says Director of Market Insight and Market Access in Norway’s Seafood Council, Asbjørn Warvik Rørtveit.

Salmon exports 4% up on 2017
So far this year, Norway exported 759,000 tonnes of salmon worth EUR 5.2 billion. This is an increase in volume of 50,000 tonnes or 7 per cent, while the export value has increased by 4 per cent or EUR 180 million from the same period last year.

“A weakening of the Norwegian krone against the euro and dollar has contributed to the stable export of salmon exports in September. Demand growth in the EU, Norway’s most important salmon market, has leveled out. Growth is primarily in Asia and Eastern Europe, and with free access to markets like Russia and China, Chile has been able to exploit this in 2018, ” said seafood analyst at the Norwegian Seafood Council, Paul T. Aandahl.

Norway exported 88,200 tonnes of salmon worth EUR 603 million in September. There was a volume decline of 8 per cent, while the export value remains at the same level as September last year. The average price achieved for whole fresh salmon was NOK 60.96 (EUR 6.4) per kg in September, compared with NOK 55.46 (EUR 5.8) per kg in the same month last year. So far this year, Poland and France bought the most salmon from Norway.

Volume growth for trout
Norway exported 31,500 tonnes of trout worth EUR 222 million so far this year. This is a volume increase of 22 percent, while the value increased by four percent or EUR 8.6 million from the same period last year. In September Norway exported 3,800 tonnes of trout for EUR 26 million. The volume is at the same level as last year, while the value fell by three per cent or EUR 952 thousand. In September, Belarus and the United States bought the most trout from Norway.