China had the most significant increase in salmon export value in July. Fresh salmon is mostly consumed in restaurants in China but there is now a tendency for consumers even outside the big cities to eat salmon at home.

Norwegian salmon exports to China jumped by 59% last month

Demand spreading from restaurants to retailers and e-commerce sites, and beyond major cities

Editorial team
Published

Norway exported 95,620 tonnes of salmon worth NOK 9.6 billion (£735 million) in July, the Norwegian Seafood Council reported today.

Export value increased by NOK 1.1bn, or 13%, compared to July last year, and export volume grew by 1%.

Poland, France, and Denmark were the biggest markets for Norwegian salmon in July, and China had the most significant increase in value in the month, with an increase in export value of NOK 230m, or 90%, compared to the same month last year. Export volume to China in July was 3,253 tonnes, 59% higher than the same month last year.

Andreas Thorud: "We ee an exciting tendency for more and more Norwegian salmon to be found in grocery stores even outside the big cities."

“There has never been such a strong July for the export of salmon to China,” said Andreas Thorud, the Seafood Council’s representative in China.

E-commerce

“We must bear in mind that July 2022 was still characterised by Covid-19 and closures and that July is traditionally the high season for demand for salmon in the Chinese market.”

Thorud said there is now a good demand for Norwegian salmon in China. The restaurant segment is well-established, but retail and e-commerce are emerging as important sales channels.

“We also see an exciting tendency for more and more Norwegian salmon to be found in grocery stores even outside the big cities,” he said.

Lower prices for trout

Norway exported 5,845 tonnes of trout worth NOK 527m in July, a growth of 14% in volume but just 1% in value compared to July last year. Nonetheless, the export value was a record high, NOK 3m higher than the previous record set the month before.

The United States, Ukraine and Thailand were the biggest markets for trout in July.

Ukraine had the most significant increase in value in July, with an increase in export value of NOK 42m, or 188%, compared to the same month last year. The export volume to Ukraine was 890 tonnes, 178% higher than the same month the previous year.

Norway’s total seafood exports in July were worth NOK 12.4bn, an increase of NOK 928m, or 8%, compared to July 2022.

Weak krone

“Year-on-year, seafood exports for the first seven months of this year have increased by NOK 13bn, or 16%, to reach a total value of NOK 94.4bn,” said Seafood Council managing director Christian Chramer.

“The increase in value this month is also primarily due to a weak Norwegian krone, although our currency strengthened somewhat in July.

“There has been a price increase for products such as fresh salmon fillets, cod clipfish and frozen whole mackerel, and this contributes to a very positive July. At the same time, we exported somewhat less cod, saithe and herring than last year.”

The Council said for several products, price growth measured in foreign currency has stopped. Measured in euros, the export price of fresh whole salmon is the same as 12 months ago, while the export price of fresh whole trout is as much as 28% lower than in July last year.

The total export value of Norwegian seafood (NOK billions) for the first seven months of the last 11 years. The value of fish farming exports is illustrated in light blue, and fishing exports in dark blue. Much of the increase between 2022 and 2023 is explained by the weak Norwegian currency.
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