Strong value growth for Norwegian salmon exports in Q1 2017

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Strong first quarter results for salmon exports

Norway exported 233,000 tonnes of salmon for NOK 16.1 billion in the first quarter. The volume increase of the salmon exports was 3 percent, but the revenues rose even more. The revenues increased by 21 percent, or NOK 2.8 billion compared to the first quarter of 2016.

 

Norway exported 91,000 tons of salmon with a total value of NOK 6 billion in March. This is a volume increase of 14 per cent and an increase in revenues of NOK 1.2 billion compared to the same month one year ago. The revenue increase is therefore a staggering 24 per cent.

– Continued growth in demand for Norwegian salmon has contributed to yet another record breaking first quarter for Norwegian salmon, says Paul T. Aandahl. Aandahl is an Analyst on Salmon and Trout in the Norwegian Seafood Council.

Despite reduced volumes, the revenue on exports to EU markets has risen by as much as 11 per cent. Consumers are now experiencing increased prices in almost all EU markets – This has led to reduced sales volumes.

Despite the price hitch in the first quarter, export volumes are still rising sharply to Asia and the US, says Aandahl.

Record salmon prices

The average export price for fresh round fish (whole, gutted) in Q1 was NOK 65.44 for one kilogramme. This is 16 per cent higher compared to last year.

The export price for fresh round salmon in March was NOK 61.42 per kg. This is up 4 per cent from last year.

Growth in exports to Asia and USA

Norway exported 43,149 tonnes of salmon to Asia worth NOK 3.1 billion in the first quarter. This is a volume increase of 23 per cent and is 38 per cent, or NOK 863 million up compared to the first quarter last year.

Norway exported 14,000 tonnes of salmon to the US worth NOK 1.3 million in the first quarter. This is a volume increase of 49 per cent and an increase of 81 per cent from the first quarter last year.

Reduced volumes and value for trout

Norway exported 8,700 metric ton of trout worth NOK 680 million in the first quarter. The volume was more than halved and a reduced value by NOK 217 million compared to last year. The largest buyers of Norwegian trout in the period were Japan, Poland and Belarus.

 

Source: seafood.no / Norway Today

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