Salmon revenue up despite price drop

NORWEGIAN salmon exports rose significantly last month - and during a period when prices were starting to fall.

July exports totalled 74,200 tonnes and sold for around NOK five billion - a volume increase of 5,200 tonnes, or eight per cent, and an increase in value NOK 324 million, or seven per cent.

So far this year, Norway has exported 524,200 tonnes of salmon for NOK 36.5 billion. The Norwegian Seafood Council said that volumes are at the same level as last year, while the value increased by 12 per cent or NOK four billion during the first seven months in 2017.

However, there are signs that the salmon bonanza may be over, at least for the time being. Prices in Norway have fallen further during the past week to NOK 62.11 per kg. They reached a peak of NOK 80 per kg at the beginning of the year.

With much of Europe away on holiday during August, demand has fallen accordingly and prices should pick up again next month when things get back to normal.

Meanwhile, exports of Norwegian farmed trout continue to decline. The country exported 2,100 tonnes of trout worth NOK 169 million in July. This represents a volume decline of 61 per cent or 3,300 tonnes and a 50 per cent decline in value or NOK 172 million.

So far this year Norwegian trout exports have reached 18,700 tonnes worth NOK 1.5 billion.

Volume over the past seven months is down by 56 per cent (23,400 tonnes) and a fall in value of 34 per cent or NOK 769 million. Belarus and the United States are the largest markers for Norwegian trout.

The total seafood export figure for July, including wild caught fish, was 138,000 tonnes of seafood worth NOK 6.7 billion, an increase in value of two per cent or NOK 115 million on July last year.