Record breaking results for Norwegian seafood exports

Fish & Seafood

Norway exported seafood with a value of NOK 11.6 billion July, representing an increase of NOK 2.1 billion, or 23 per cent, compared to July 2021. Year to date, Norway has exported NOK 81.7 billion by seafood value. This is an increase of NOK 18.5 billion, or 29 per cent, compared to last year.

Posted on Aug 10 ,03:51

Record breaking results for Norwegian seafood exports

“After a record-breaking first half of the year, July follows on as the best July month ever for Norwegian seafood exports. Since records began, July was also the strongest single month for salmon and trout. Despite the strong growth in the value of seafood exports so far this year, challenging times can still impact development going forward”, says Børge Grønbech, Acting CEO of the Norwegian Seafood Council.

“While the export volume for important species such as salmon, cod, mackerel, and herring fell in July, high salmon prices made the largest contribution to July´s strong seafood export results. At the same time, the export price for several other species and products also reached record highs in July. For example, clipfish of cod and saithe and frozen whole cod and haddock have achieved prices not seen before”, Grønbech explains.

“These are also challenging times for the Norwegian seafood industry, which is impacted by high inflation and cost growth. Both factors have weakened most consumer´s purchasing power. In addition, supply logistics out to the markets are challenging in several areas. These factors can influence the development of seafood exports going forward”, points out Grønbech.

July was the best month for salmon exports

  • 96,500 tonnes of salmon with a value of NOK 8.7 billion were exported in July.
  • Export volume fell by 5 per cent.
  • Export value increased by NOK 1.8 billion, or 27 per cent, compared to July last year.
  • Poland, Denmark, and France were the biggest markets for Norwegian salmon in July.

July 2022 was the best single month ever for salmon exports. Exports were NOK 10 million higher than the previous record month, which was in June this year. The price for fresh whole salmon in July was NOK 84.87 per kg.

Seasonal variation for salmon exports

We still see high demand for Norwegian salmon, while export volume is behind last year's level. The price for fresh whole salmon in July was 35 per cent higher than last year's for the same month.

“We have seen the pattern of increased volume and lower prices in late summer and autumn in recent years. For example, the export volume for fresh whole salmon in July this year was 17 per cent higher than in June, and the price was 12 per cent lower than in June this year”, says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council.

British consumers prioritize seafood

The UK has seen the largest volume growth for salmon this year, increasing from 5,400 tonnes to 35,500 tonnes. Growth continues in July, with an increase of 9 per cent, or 400 tonnes, to 5,100 tonnes.

“Even with rising prices, British consumers prioritize buying seafood. Many Britons are keen to eat healthily, and it is pleasing to see that consumers stick with these good habits even with rising prices. The growth in the volume of salmon to Great Britain can also be seen in the context of somewhat lower production of salmon from Scotland”, reports Hans Frode Kielland Asmyhr, UK seafood envoy.

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