Onwards and upwards for Norway’s salmon exports

Norway’s salmon farmers have enjoyed another outstanding month, with the value of exports during October rising by 14% year on year.

Although the performance did not quite match the September record, the figures show that demand for salmon has almost returned to pre-pandemic levels.

Salmon exports last month totalled 118,334 tonnes, marginally lower than October last year, but the value increased by NOK 921m (£79m) to NOK 7.4 billion (£637m).

Norwegian Seafood Council analyst Paul T. Aandahl said: “Demand for salmon has risen sharply, which is reflected in a price increase of 14% on October last year.

“This is happening despite a strengthened Norwegian krone against our most important trading currencies.”

Once again Poland, France and Denmark were the largest buyers of Norwegian salmon.

The country’s trout farmers continue to find life difficult, however, with exports down by 19% to 5,600 tonnes and the value 1% or NOK 4m lower to NOK 363m (£31m)

Total Norwegian exports last month totalled NOK 11.2bn (£965m), a rise on a year ago of NOK 636m (£55m) or 6%.

Seafood Council CEO Renate Larsen said: “Although the coronavirus pandemic is not over the value of Norwegian seafood continues to increase. In a historical perspective, it was only during the record month of September this year that the value has been higher.”

Norway’s main markets for seafood of all types are Poland, Denmark (both have large seafood processing facilities) along with France, the Netherlands and the United States.

Herring sales are booming reaching the highest single month total in 10 years while cod fillet exports rose by 12% to NOK 22m (£1.9m).

Norway’s new Fisheries Minister Bjørnar Skjæran pledged: “The government will facilitate further growth to create more secure full-time jobs in coastal communities, more processing, greater value creation and increased export revenues.”