Norway is the largest supplier of fresh whole salmon to China and has a market share of around 45 per cent

The international market dynamics for Norwegian salmon and trout

NORWAY
Thursday, December 05, 2024, 00:10 (GMT + 9)

Record high value for salmon

• Norway exported 131,232 tonnes of salmon worth NOK 12.1 billion in November
• The value increased by NOK 619 million, or 5 per cent, compared with the same month last year.
• This is a growth in volume of 3 per cent
• Poland, France and the Netherlands were the largest markets for salmon in November

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This is a record-high export value for salmon in a single month, NOK 224 million higher than the previous record month, which was in October 2023.

Germany had the highest value growth in November, with an increase in export value of NOK 149 million, or 34 per cent, compared with the same month last year.

Exports to Germany totalled 5,881 tonnes, which is 34 per cent higher than the same month last year.

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Increased home consumption in Germany

"The growth in value to Germany is mainly due to increased home consumption. "There is both increased frequency and greater volume per purchase of both fresh natural and smoked salmon," says Kristin Pettersen, the Norwegian Seafood Council's envoy to Germany.

In the third quarter, 5 per cent more salmon was sold in the discount chains compared with the same period last year.

“Compared with the price of meat and other seafood, the price of salmon is perceived as more stable than in previous periods. 55 per cent of Germans say they are "flexitarians", i.e. that they alternate between different proteins and reduce their share of meat. Salmon is the closest substitute for meat," explains Pettersen.

Good demand in China

China was the second largest growth market in November, with an increase of NOK 121 million, or 33 per cent. In total, the Chinese bought Norwegian salmon for NOK 490 million last month.

"China received a boost last year after the corona pandemic, and the market was particularly strong at the beginning of 2023. This year, the import volume of Norwegian salmon has continued to increase, and this autumn demand has been significantly stronger than at the same time last year," says Seafood Analyst Paul T. Aandahl of the Norwegian Seafood Council.

Norway is the largest supplier of fresh whole salmon to China and has a market share of around 45 per cent.

Good month for trout

• Norway exported 6,595 tonnes of trout worth NOK 592 million in November
• The value increased by NOK 34 million, or 6 per cent, compared with the same month last year.
• This is a growth in volume of 4 per cent
• Lithuania, Ukraine and the US were the largest markets for trout in November

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Lithuania had the highest value growth in November, with an increase in export value of NOK 45 million, or 93 per cent, compared with the same month last year.

The export volume to Lithuania ended at 1,142 tonnes, which is 93 per cent higher than the same month last year.

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