245,000 tonnes of salmon exported this quarter

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Norway exported 245,000 tonnes of salmon with a value of NOK 16.7 billion (EUR 1.73 billion) in the first quarter.

In a press release today, the Norwegian Seafood Council wrote that the value of seafood exports in the first quarter have reached a record high.

“The value of seafood exports in the first quarter have reached a record high. This is mainly driven by increased prices for several of our most important species. There are good, stable market conditions, increased demand in our key markets, and a weak Norwegian kroner against both the US dollar and the euro sets a record price for seafood exports”, said Ingrid K. Pettersen, seafood analyst with the Norwegian Seafood Council.

For salmon, this represents an increase of 1 per cent measured in volume and an increase in export value of NOK 1.1 billion (EUR 114 million) or 7 per cent compared to the first quarter of 2018. The average price for fresh whole salmon increased from NOK 67.45 (EUR 7) to NOK 68.78 (EUR 7.1) per kg. Poland, France and Denmark were the largest export markets for Norwegian salmon in the first quarter.

“We have seen a 5% lift in EU exports and a 20% rise in US exports, compared with the same period last year. The export value of fresh salmon filets to the US increased by 58 per cent. This is driven by a volume growth of 13 per cent and a price increase of 40 per cent. Growth in exports of fillet products, especially to the US market, have led to processed salmon now accounting for 20 per cent of the export value for salmon, compared with 18 per cent in the first quarter of 2018. At the same time, the dollar has risen 10% against the Norwegian kroner compared to its level during the same period in 2018, which favours dollar market exports, compared with exports to euro markets” said seafood analyst Paul T. Aandahl.

In March, 83,000 tonnes of salmon were exported with a value of NOK 6 billion (EUR 623 million). This represents a volume decrease of 4 per cent, while export value remains at the same level as in 2018.