Norwegian exports pass million-tonne mark

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Big importers Poland, Denmark and France push country’s salmon exports past milestone.

By the end of last week, 990,859 tonnes of gutted salmon were exported from Norway, but expectations this week of a quantum leap in sales from 25,000 to 30,000 tonnes suggest the million-mark was likely passed on Tuesday. Norwegian salmon exporters have definitely started this year’s pre-Christmas trade.

For four weeks an accumulated export of 107,804 t have been registered, good for an average of almost 27,000 tonnes a week, according to the week’s numbers from The Norwegian Seafood Council.

As a result of the increased slaughter and export quantity — met by lower demand — Norwegian farmed salmon at the moment is trading at this year’s lowest price level. Last Friday, SalmonBusiness saw spot prices for fish over three kilograms around €5.

A clear strengthening in the salmon price is expected in the coming months. Commodity index, Fish Pool, now operates with a so-called forward price of NOK 56.98 (€5.9) per kilogram for 2018. That’s in-line with the consensus estimate among salmon analysts that follow aquaculture shares on the stock exchange.