Booming seafood export

Norwegian seafood exports are booming. By volume, exports are slightly down during the first four months of 2016, but thanks to strong demand, high prices and a favourable currency situation, the value rose NOK 5.9 billion (€633.8 million) compared to the same period last year.

Salmon and trout have been the main contributors to strong export growth. The value of salmon exports increased 25 percent year-on-year during the first four months. The average price achieved for whole fresh Norwegian salmon in April was NOK 57.39 per kilo, compared with NOK 39.89 per kilo in April 2015. Poland and France were the biggest buyers of Norwegian salmon during the first quarter.

Trout exports increased 117 per cent or NOK 704 million (€75.6 million) compared to the first four months of 2015. The biggest buyers of Norwegian trout were Belarus and Japan, the Norwegian Seafood Council writes.

In August 2014 Russia imposed a total ban on imports of seafood and other foodstuffs from Norway, US, EU and some other countries. This was expected to have a big impact on parts of Norwegian exports, as Russia was one of the largest markets for Norwegian seafood. The ban initially hit sales of herring and trout, but for salmon the exporters were quick to find other markets.