Norwegian salmon exports broke record again in the first quarter......

According to Norwegian Marine Products, exports of Norwegian Marine products reached 41.4 billion kroner in the first quarter of 2023, a 22% increase compared with the same period last year. Total exports reached 693,400 tons, down 8.7 percent year on year.

"Norwegian exports are at an all-time high," said Christian Kramer, Managing director of NSC. The decline in the Norwegian krone is largely to blame, and prices for Atlantic salmon, cod, trout and herring are rising. In March, exports reached their highest level in a month."

Norway exported 263,000 tonnes of Atlantic salmon in the first quarter, down 6 per cent year on year, with exports worth NKr28.8bn, up 24 per cent. Poland, the United States and France are the biggest export markets. Norwegian frozen salmon hit a record price of NoK 148 per kg in the first quarter, which was NOK 23 higher than the second quarter of 2022. The price of frozen whole salmon hit a record high of 105 Norwegian kroner per kg, 7 kroner higher than in the second quarter of 2022.

In March, Norwegian salmon exports fell 4 per cent year-on-year to 93,700 tonnes, while exports rose 34 per cent year-on-year to NKR11.3bn.

Norwegian exports to the US market grew rapidly in the first quarter, up 40 per cent to NoK 10bn. Paul T.Andahl, an analyst at the Norwegian Seafood Agency, said, "A reduction in global salmon supply, increased demand anda strong US dollar are behind the surge in Norwegian exports to the US. For household consumption, we are seeing more processed products (such as ready-to-eat products) for the market, such as Poke Bowl dishes

In the first quarter, Norwegian bluefish exports were 71,400 tons, up 16% year on year, and exports were 1.4 billion kroner, up 21% year on year. Jan Eirik Johnsen, pelagic fish manager at the Norwegian Marine Products Agency, said: "In the last few years, most of the mackerel has been processed in China. However, Norwegian bluefish exports to China are decreasing this year, while export figures to Japan date back to high levels in 2005." This is partly because local fish catches have fallen and partly because Japanese processing industries need more raw materials. At the same time, China's ports and capacity also face some challenges.

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