Norway continues record seafood export run

Norwegian seafood exports continued their record run last month, totalling NOK 11.6bn (£828m) – an increase of 6% by value on September last year.

The volume, at 141,600 tonnes, represents a rise of 9%.

It was also a strong quarter (July to September) for salmon, which now accounts for 70% of all seafood sold, with 372,442 tonnes sold at a value of NOK 31.8bn (almost £2.3 bn).

Seafood Norway said the quarterly value increased by NOK 997m (£71m) or 3% in value and 8% bin volume on Q3 a year ago.

As usual Poland and Denmark, which have large salmon processing sectors, along with the United States, were the largest markets.

Seafood Council analyst Paul T. Aandahl said growth in Germany, particularly in home consumption, has been particularly strong.

He added: “At the same time, the consumer price is falling compared to the same period last year. This strengthens the competitiveness of salmon compared to other proteins.”

Farmed trout exports also did particularly well with a record 25,033 tonnes sold during the quarter at a value of NOK 2bn (£144m) . The value increased by 24% and the volume was up by 34% .

All Norwegian seafood exports hit a Q3 record of NOK 44.1bn (£3.15bn) which was 5% higher than Q3 12 months ago.

Seafood Council CEO Christian Chramer said: “Thanks to a historically high export value in September, we have put behind us the best third quarter ever.

“This time there is, so to speak, no currency effect from a weak Norwegian krone, since we are comparing with the same period last year.

“There were high volumes for salmon, trout, mackerel and prawns which drive up the export value.”

Aquaculture also appears to be compensating for reductions in fishing catch quotas, most notably for cod and haddock.