Value of Norwegian salmon exports at all-time high

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The value of Norwegian exports of salmon rose 3.6 percent and reached a record NOK 67.7 billion (EU 7 billion) in 2017, totals that helped the country post record seafood sales abroad worth NOK 94.5 billion (EUR 9.8 billion) for the year.

The Norwegian Seafood Council reported volumes of Norwegian seafood exports reached 2.6 million tonnes, or up three percent, with fish-farming accounting for 40 percent of that volume. Aquaculture — nearly all of it salmon-farming — accounted for 72 percent of exported Norwegian seafood values.

“An increased salmon price for European consumers has reduced the demand for salmon in Europe,” Renate Larsen, managing director at the Council, said in a statement that addressed what were stagnant volumes that nevertheless earned record values.

“Since Europe is the dominant market for Norwegian salmon, a reduction in salmon sales has a large effect on the export price. This has contributed to lower salmon prices in the last six months of the year,” the statement said.