Photo: Norwegian Seafood Council

Value growth and volume decline for salmon

NORWAY
Tuesday, May 07, 2024, 01:00 (GMT + 9)

• Norway exported 80,126 tonnes of salmon worth NOK 9.9 billion in April.
• The value increased by NOK 222 million, or 2 percent, compared to the same month last year.
• Volume fell by 1 percent.
• Poland, Denmark and the US were the largest markets for salmon in April.

Poland had the highest value growth in April, with an increase in export value of NOK 265 million, or 26 percent, compared with the same month last year. The export volume to Poland ended at 10,875 tonnes, which is 13 percent higher than the same month last year.

"The price of fresh whole salmon is at a record high of NOK 121 per kg. This is NOK 3 per kg higher than the previous record month, which was March 2023," says Seafood Analyst Paul T. Aandahl with the Norwegian Seafood Council.

Exports of fresh salmon fillets increase

In April, fresh salmon fillets worth NOK 2.2 billion were exported. This is 42 percent higher than in April last year.

Fresh salmon fillets accounted for 22 percent of total salmon exports. The corresponding share in April last year was 16 percent.

Exports of frozen fillets increased by 10% in value to NOK 857 million. The share of frozen fillet of total salmon exports has remained stable over time at between 8 and 9 percent.

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Strong growth for trout

• Norway exported 4,177 tonnes of trout worth NOK 485 million in April.
• The value increased by NOK 165 million, or 51 percent, compared to the same month last year.
• This represents a growth in volume of 56 percent.
• Ukraine, USA and Thailand were the largest markets for trout in April.

Ukraine had the highest value growth in April, with an increase in export value of NOK 83 million, or 376 percent, compared to the same month last year.

The export volume to Ukraine ended at 984 tonnes, which is 299 percent higher than the same month last year.

At NOK 161 per kg, the price of fresh trout fillets is at a record high. This is NOK 5 higher than the previous record month, which was in June 2023.

Source: Norwegian Seafood Council

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