Norwegian salmon export volume increase has resulted in lower prices in 1st quarter of 2012. (Photo: Tom Haga/Norwegian Seafood Council)

Salmon exports show biggest growth ever

NORWAY
Friday, April 13, 2012, 14:20 (GMT + 9)

Exports of salmon in the 1st quarter of 2012 totalled a record product weight of 229,000 tonnes. This figure represents a growth of no less than 31 per cent or 54,000 tonnes compared to the same period last year, according to the latest figures from the Norwegian Seafood Council (NSC).

The value of exports for the same period showed a decline of 9 per cent to NOK 6.8 billion (EUR 894.2 million).

”Despite the record growth seen in the volume of exports, the value of exports shows a decline. Lower prices during the 1st quarter of 2012 compared with the same period last year can be seen as a consequence of the increased volume of exports from Norway and from competing nations,” said Paul Aandahl, senior market analyst with NSC.

Despite the strong growth in the volume of exports of salmon, prices are also trending upwards. In the 1st quarter of 2012 the average export price for whole fresh salmon was NOK 27.51 (EUR 3.62). This is 9 per cent or NOK 2.29 (EUR 0.30) up on the 4th quarter of 2011, but NOK 12.51 (EUR 1.65) down on the 1st quarter of 2011.

The EU is the most important market for salmon, accounting for 63 per cent of all export volume. Exports to the EU increased by 25 per cent or 29,000 tonnes in the 1st quarter of 2012. The most important growth markets in the EU were France and Poland.

In eastern Europe Russia is the most important market, with 1st quarter growth in exports of more than 13,000 tonnes or 68 per cent to a total of 33,000 tonnes. This makes Russia Norway’s biggest single market for salmon in terms of volume.

Also in eastern Europe, the Ukraine is showing strong growth with an increase of 67 per cent to 6,000 tonnes.

The volume of exports to Asia in the 1st quarter increased by 31 per cent to 34,000 tonnes. The biggest growth is in exports to Vietnam, Japan and Taiwan.

In the 1st quarter of 2012 the volume of exports to the US fell by 22 per cent to a total product weight of just over 4,000 tonnes. The fall is due mainly to a drop in exports of fresh fillets totalling 1,702 tonnes, slightly offset by an increase in 1st quarter exports of frozen fillets by 428 tonnes.
 
Following relatively weak export volume during the last couple of years, exports of Norwegian fjord trout have jumped in the 1st quarter of 2012 by 71 per cent to 31,000 tonnes. This represents a 19 per cent increase in the value of exports to NOK 409 million (EUR 53.8 million).

Russia’a share of the total exports of Norwegian Fjord trout increased in the 1st quarter to 55 per cent from 45 per cent in the same quarter last year. Other important markets are Japan and Belarus.

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