Norway exported 1.2 million tonnes of farmed salmon last year
Weak krone and sector price increases set new record despite volume falling by 2%
Norway, the world’s largest producer of farmed Atlantic salmon, exported 1.2 million tonnes of salmon worth NOK 122.5 billion (£9.364bn) in 2023, new figures show.
The export value of salmon increased by NOK 16.9bn, or 16%, compared to 2022, despite export volume falling by 2%.
The weak Norwegian krone and the general price increase in the markets lifted the value of Norway’s farmed and caught seafood to a record high level of NOK 172bn, said Christian Chramer, chief executive of the Norwegian Seafood Council.
“In total, the devaluation of the krone contributed to increasing the export value by almost NOK 15bn in 2023,” said Chramer, who emphasised that the new value record for seafood exports did not mean solid bottom lines for the seafood companies.
For many seafood companies these are still challenging times with increased costs, weakened consumer purchasing power and a changing global competitive landscape
Norwegian Seafood Council chief Christian Chramer
“For many of them, these are still challenging times with increased costs, weakened consumer purchasing power and a changing global competitive landscape.”
Poland – where a large amount of secondary processing takes place - France, and the United States were the largest markets for salmon in 2023.
“We see several positive trends in home consumption in Europe, which is positive for processing finished products in Poland. In addition, in 2023, there was an increase in exports from Poland to countries outside the EU, including to the US,” said Paul Aandahl, seafood analyst with the Norwegian Seafood Council.
Salmon exports to Poland had the greatest increase in value last year, with an increase of NOK 2.9bn, or 21%, compared to the previous year. The export volume to Poland was 189,400 tonnes, which is 2% higher than in 2022.
There was a record price for fresh salmon fillets at NOK 148 per kg. This is NOK 31 per kg higher than the previous record year, which was in 2022.
There was a record high price for fresh whole salmon at NOK 93 per kg. This is NOK 14 per kg higher than the previous record year, which was in 2022.
More trout
Norway exported 56,900 tonnes of trout worth a record NOK 5.5bn last year.
The value increased by NOK 485 million, or 10%, compared to 2022, and the export volume increased by 4%.
The US, Ukraine and Thailand were the largest markets for trout in 2023.
Ukraine had the greatest increase in value last year, with an increase in export value of NOK 284m, or 92%, compared to the previous year. The export volume to Ukraine ended at 8,000 tonnes, which is 76% higher than the previous year.
That volume is almost the same as what was exported to Ukraine in 2021.
“Overall, the export volume of salmon and trout to Ukraine has increased by 14% compared to 2022. If, on the other hand, we compare with 2021, there is a decrease of 27%,” said Aandahl.
