New record set for Norwegian seafood exports

The Norwegian seafood sector produced its best ever export results last month – with salmon continuing to dominate and also netting the highest ever value.

The October total was NOK 18.5bn (£1.3bn) – 5% or NOK 914m (£64m) up on 12 months ago.

Christian Chramer, CEO of the Norwegian Seafood Council said: “Never before has seafood been exported for a higher value in a single month.

“The reason is primarily an exceptionally strong mackerel export that we have not seen the likes of. It alone accounts for almost the entire increase in value in October.”

So far this year, Norway has exported NOK 143.1bn (£10bn) worth of seafood. This is an increase of NOK 1.4bn, (£100m) or 1% compared to the same period last year.

Measured in US dollars, the value is unchanged, while in euros the export value was 1% lower.

CEO Chramer added: “The economic development in the markets appears to be moving in a positive direction, with record low unemployment, real wage growth and prospects for increasing household consumption in the EU.

“These are factors that increase purchasing power and thus the willingness to pay for Norwegian seafood.”

As usual, salmon continues to dominate the Norwegian seafood scene with exports of the popular pink fish hitting a new peak during October.

Trends also appear to be changing with a continued marked growth in the sale of salmon fillets last month.

The country’s salmon farmers sold 144,761 tonnes worth NOK 12bn (£842m) last month. The value was up by NOK 133 million (£9m) with a 10% growth in volume. Poland, the US and the Netherlands were the main salmon markets.

Seafood Council analyst Paul T. Aandahl said: “The growth in fillet exports is a trend we have seen throughout the year. It must be seen in the context of increased processing capacity in Norway.

He added: “In October, the USA was the biggest growth market for both fresh and frozen fillets.”