Photo: Norwegian Seafood Council

Market situation for Norwegian salmon and trout

NORWAY
Wednesday, August 07, 2024, 01:00 (GMT + 9)

The weakening of the Norwegian krone resulted in value growth for salmon

• Norway exported 107,442 tonnes of salmon worth NOK 9.6 billion in July
• The value increased by NOK 262 million, or 3 percent, compared with the same month last year.
• This is a growth in volume of 13 percent
• Poland, the Netherlands, and the US were the largest markets for salmon in July

July saw a further decline in the price of salmon, as well as significant volume growth. However, the increase in export value was driven by a weaker Norwegian krone. Measured in euros, the export value was unchanged from July last year, while measured in US dollars, the export value fell by 2 percent.

"Despite the fall in prices, the value of exports to several of the major markets is increasing," says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.

“Germany saw the greatest growth in value in July, with an increase in export value of NOK 142 million, or 46 percent, compared with the same month last year. The export volume to Germany ended at 4,800 tonnes, which is 53 percent higher than the same month last year. This development must be seen in the context of low supplies at the beginning of the year, as well as the currency situation, which is favourable from an export perspective," says Aandahl.

Trout exports increase

• Norway exported 8,025 tonnes of trout worth NOK 698 million in July
• The value increased by NOK 186 million, or 36 percent, compared with the same month last year
• This is a growth in volume of 38 percent
• Thailand, Ukraine, and the US were the largest markets for trout in July

Source: Norwegian Seafood Council

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