Value of Norway salmon exports at record levels

Demand for Norwegian salmon showed strong growth in 2013, resulting in record prices and the highest…

Demand for Norwegian salmon showed strong growth in 2013, resulting in record prices and the highest Norwegian salmon export figures in recent times.

The value of exports of Norwegian salmon in 2013 reached NOK 39.8 billion, the highest annual Norwegian salmon export figure ever registered and 35 percent up compared to the previous year.

“A reduction in salmon production in Norway combined with a strong increase in demand has resulted in higher prices for Norwegian salmon,” said Paul Aandahl, manager salmon and trout with the Norwegian Seafood Council.

The volume of Norwegian salmon exports however, was down 3.5 percent compared to 2012 to 960,000 metric tons (MT).

Export prices for fresh whole Norwegian salmon during the course of the year varied between NOK 33.45 (USD 5.44, EUR 3.99) per kg in September and NOK 48 (USD 7.80, EUR 5.72) in December. The average price for the year was NOK 39.74 (USD 6.46, EUR 4.74) per kg. This was NOK 12.11 (USD 1.97, EUR 1.44) or 44 percent more than in 2012 and the highest since 1988.

Despite a decline in the total volume of exports, export volume to the EU has remained largely on a par with 2012. The volume of exports of Norwegian salmon products to the EU in 2013 totaled 651,000 MT. The most important market for Norwegian salmon is France, and in 2013 exports to France were up in value by 30 percent despite a drop in the volume of exports of 7 percent. Poland is the biggest growth market in the EU, with an increase in export volume of 8,800 MT to a total of 125,000 MT. In terms of volume, the Polish market is as big as the French market.

In 2013, the volume of exports of Norwegian salmon to the U.S. increased by 19 percent, or 3,000 MT, compared to the previous year. Exports of both fresh fillets and fresh whole Norwegian salmon were up from 2012. In 2013, a total of 5,400 MT of fresh whole Norwegian salmon was exported to the U.S., a product which until 2012 was subject to a penalty tariff.

Following record growth in the volume of Norwegian salmon exports to Eastern Europe in 2012, the year 2013 saw a decline in export volume of 15 percent. This reduction is primarily attributable to a downturn in exports to the Russian market. Exports to other countries in the region are stable or growing.

In 2013, the volume of exports to Asia was down by 8 percent, or 11,000 MT. The biggest declines were in exports to China, down by 5,000 MT, and Japan, down by 3,700 MT.