Norway exported 91,000 tonnes of salmon with an export value of NOK 6.1 billion in May
Salmon exports experience strong growth in volume, modest in value
(NORWAY, 6/5/2019)
Norway exported 181,400 tonnes of seafood with a value of NOK 8.7 billion (USD 1 billion) in May, an increase of 3 percent compared with May last year. So far this year, seafood exports have totalled NOK 43.3 billion (USD 4.98 billion), which represents an increase of 8 percent compared with the same period last year.
"There has been a growth in export value for several species in May, where export earnings from salmon and mackerel in particular have increased. Demand for Norwegian seafood remains strong overall, especially in Europe and Asia. At the same time, the Norwegian krone has weakened, especially against the dollar, and this has had a positive impact on the export price. Despite the increase in both volume and value, some companies have unfortunately suffered great losses in their production, due to the recent algae outbreak. This is obviously a tragedy for those involved”, says Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council.
Mackerel H&G (Photo: seafood.no)
Modest value gains in salmon exports
Norway exported 91,000 tonnes of salmon with an export value of NOK 6.1 billion in May. This is an increase in volume of 14 percent and an increase in value of 1 percent compared with May last year.
So far this year, 425,000 tonnes of salmon have been exported with a value of NOK 29 billion, up 6 percent and in volume and 8 percent in value. The average price for fresh whole salmon in May was NOK 62.17 per kg compared to NOK 73.16 per kilo in May last year. Poland, France and Denmark were the largest export markets for salmon from Norway in May.
Photo: seafood.no
"Strong growth in export volumes over the past two months has put pressure on salmon prices. Historically, May has tended to see increases in salmon prices, but the strong volume growth has reversed this picture this year. So far this year we have seen favorable production conditions, partly due to the warm winter. This has resulted in increased exports in recent months. At the same time, the demand for Norwegian salmon is still increasing, especially in the EU and Asia," says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.
Photo: Marius Fiskum/seafood.no
Trout exports increase
In May, 4,600 tonnes of trout were exported with a value of NOK 307 million. The volume increased by 11 percent while the value increased by 3 percent compared with May last year.
So far this year, 19,300 tonnes of trout have been exported with a value of NOK 1.3 billion. This is an increase in volume of 9 percent, while the value increased by14 percent. The United States, Belarus and Japan were the largest export markets for Norwgian trout in May.
(1 NOK = USD 0.11498)
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