Norway racked up all-time high salmon exports worth NOK 43.9 billion (US $5.7 billion) in 2014. The 11% gain over 2013 was achieved despite the fact that one of the biggest markets, Russia, closed its borders to Norwegian seafood last August 7 for political reasons.
“Increased salmon production in Norway combined with strong demand and record salmon prices have contributed to set a new export record for Norwegian salmon. Measured by product weight, exports hit 999,000 tons, which is 4% higher than the year before,” said Paul Aandahl, branch manager for salmon and trout at the Tromso-based Norwegian Seafood Council.
The export price for whole salmon during 2014 fluctuated between NOK 34.96 per kg in September and NOK 48.88 in January. The average export price was NOK 41.06 per kg, which amounted to NOK 1.35 kroner or 3.4% more than in 2013.
Greater Exports to EU
Following the Russian import ban in August, the EU’s share of Norwegian seafood exports increased significantly. Measured by product weight, 720,000 tons of salmon were sold to EU customers, which represents an increase of 11% compared to 2013.
“Being excluded from Russia illustrates the strong demand for salmon in the world market as well as the ability of Norwegian exporters to adapt to market changes. Our exporters have become less dependent on individual markets,” said Bjørn-Erik Stabell, marketing manager for salmon at the Norwegian Seafood Council.
Poland is Norway’s most important salmon export market. Measured by value, sales increased by 10% in 2014 to reach a total of NOK 5.5 billion. The UK, which ranks as the biggest growth market in the EU, saw imports increase by 12,300 tons to 60,000 tons.
USA Sales Soar
Salmon worth NOK 1.9 billion was exported to the United States in 2014 – a 64% gain over 2013. Measured by product weight, 47%, or 9,000 more tons of salmon was exported in 2014 compared to 2013. Both exports of fillets and whole salmon increased last year. Approximately 8,000 tons of whole salmon – a product that until 2012 was negatively affected by punitive import duties – went to the United States in 2014.
Sharp Fall in Exports to Eastern Europe
The value of salmon exports to Eastern Europe declined by 37% in 2014 to a total of NOK 3.56 billion, compared to 2013. The reason for the dramatic decrease was primarily the Russian import ban and a reduction in shipments to the Ukrainian market. Exports to other countries in the region remained stable or increased in 2014.
Asian Volumes Rise
Norway exported NOK 6.56 billion worth of salmon to Asia in 2014. This was an increase of 16% over 2013. Measured by product weight, shipments to Asia rose by 11%, or 14,000 tons in 2014. The largest increases, measured by value, were realized in the Israeli, Hong Kong and South Korean markets.
Trout Exports Down
Norway exported trout worth NOK 2.34 billion last year. This represented a decrease of 1%, or NOK 29 million compared with 2013. Measured by product weight, 50,700 tons of trout were exported in 2014. This was a decrease of 9.5% compared to 2013.
While the supply of trout to Eastern Europe declined, there was an increase in exports to the EU, Asia and the USA. Within the EU, export value increased the most to Poland and Finland, while Japan and China were the biggest growth markets in Asia.
The price of whole trout increased by NOK 1.79 per kg, or 4.3%, to NOK 43.31 per kg. This was NOK 2.25 higher than the price for whole salmon.
