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Norwegian salmon for export. (Photo: EFF, Tom Haga/NSEC)

Value of salmon exports falls

Click on the flag for more information about Norway NORWAY
Thursday, January 05, 2012, 23:40 (GMT + 9)

In 2011, the value of salmon exports totalled NOK 29.2 billion (EUR 3.8 billion). This is a decline of NOK 2 billion (EUR 259.4 million) or 6.4 per cent. This decline is attributable to a fall in the average price of salmon from NOK 37.47 (EUR 4.86) to NOK 31.93 (EUR 4.14) per kg, according to the latest figures from the Norwegian Seafood Export Council (NSEC).

The volume of exports of salmon in 2011 totalled 840,000 tonnes in product weight, an increase of 7 per cent. In round weight, this is equal to an export volume of 979,000 tonnes. This is the biggest annual export volume ever registered.

”The record volume of exports of salmon is equal to 12 million meals of salmon every day of the year,” points out market analyst Paul Aandahl from NSEC. “Salmon was exported to a total of 98 markets last year; however, although salmon enjoys a global reach, the trend in recent years shows salmon exports becoming more dependent on a smaller number of major single markets.”

Fall in prices of salmon

The year 2011 saw export prices for salmon move within a very wide range. The average export price for the year as a whole for fresh whole salmon was NOK 31.93 (EUR 4.14) per kg, which is an average of NOK 5.54 (EUR 0.72) lower than in 2010.

The year started with prices around NOK 40 (EUR 5.19) per kg, but after setting a record price in April of NOK 42.73 (EUR 5.54), export prices fell steadily through to October, hitting a low of NOK 23.41 (EUR 3.04) per kg. This is the biggest fall in price for salmon ever registered over a half-year period.

In November and December, export prices for salmon have again shown an upturn and in December averaged NOK 26.93 (EUR 3.49) per kg.

“With the fall in prices that we have seen in 2011, salmon as raw marine produce has become much more competitively priced on the global food market,” explains Bjørn-Erik Stabell, Marketing Manager Salmon and Trout of NSEC. “This, combined with a continued strong focus on marketing and product development, ought to result in increased demand for salmon in years to come.”

France the biggest single market for salmon

Due to the fall in prices, the value of salmon exports has shown a decline on most markets while at the same time the volume of exports has increased. The most important market for salmon exports is France.

In round weight, a total of 143,000 tonnes of salmon was exported to France in 2011. This is an increase of 7,578 tonnes compared to the previous year. Russia, Poland and Denmark are the next most important export markets after France.

Biggest growth in volume of exports to EU and Russia

In 2011, exports of salmon to the European Union (EU) showed the biggest growth in volume, up by 34,512 tonnes (round weight) or 5.6 per cent. No less than 66 per cent of all salmon exports go to the EU.

Eastern Europe was the region with the biggest growth in export volume in 2011, with exports for the year up by 27,579 tonnes, ahead of Asia where exports were up by 19,123 tonnes.

Among single markets, Russia showed the biggest increase in export volume with growth of 20,699 tonnes in 2011. The biggest fall in export volume in 2011 was to the US, where the majority of exports comprise fresh and frozen salmon fillets. In round weight, a reduction of 24,955 tonnes was registered.

Reduced prices and volume in exports of Norwegian fjord trout

In 2011, the value of exports of Norwegian fjord trout fell by 12 per cent to NOK 1.4 billion (EUR 181.6 million). This is attributable to reductions in both the volume and prices of exports.

Exports declined in volume by 830 tonnes to a total of 39,037 tonnes (round weight 45,757 tonnes). The average price for the most important product, fresh whole Norwegian fjord trout, fell by NOK 5.89 (EUR 0.76) to NOK 34.85 (EUR 4.52) per kg.

Russia is the biggest single market for Norwegian fjord trout, accounting for 50 per cent of the total export volume. Other important export markets in 2011 were Japan, China and Belarus.

Related article:

Seafood exports slightly down in 2011

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Photo Courtesy of FIS Member  Norwegian Seafood Council | Norges sjømatråd - Headquarter

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