Norwegian Salmon exports set first quarter record

The value of Norwegian Salmon exports in the first quarter of 2010 reached a record high of NOK 6.5 billion. This represents growth of 37% compared with the same period last year, reports http://www.megafishnet.com/ with reference to the latest statistics from the Norwegian Seafood Export Council.

"The growth in exports of Norwegian Salmon can be credited to increased volume combined with higher prices," says market analyst Paul Aandahl from the Norwegian Seafood Export Council. "This development is attributable to general growth in demand for Norwegian Salmon globally and reduced competition."
Share of exports to EU reduced

Despite an increase in the value of exports to the EU of 23% in the first quarter of 2010 to NOK 4.3 billion, the share of exports to the EU showed a downturn. The first quarter share of Norwegian Salmon exports to the EU stood at 65% this year, compared to 72% last year. The drop in the share of exports to the EU is due to strong growth in exports to the USA, Asia and eastern Europe.
Strong growth in exports to USA

As a result of Chile's problems with its salmon industry, exports of Norwegian Salmon to the USA have shown very strong growth. In the first quarter of 2010, the value of Norwegian Salmon exports to the USA totalled NOK 512 million, an increase of NOK 308 million or 151% compared with the same quarter last year. Fresh and frozen fillets are the main export products to the USA.
Asia showing growth

This year to date, exports of Norwegian Salmon to Asia are up by 53% or NOK 307 million. The strongest growth was seen in exports to Hong Kong and China, which increased by NOK 63 million and NOK 60 million respectively.
Strong growth in Norwegian Salmon exports to Russia

Exports of Norwegian Salmon to Russia in the first quarter of 2010 totalled NOK 568 million, up by NOK 221 million or 64% compared with the first quarter of last year. Russia is NSEC's third biggest export market and the biggest market outside the EU. Fresh Norwegian Salmon with head is becoming an increasingly important export product to Russia, accounting for over 90% of the total value of exports to Russia in the first quarter of 2010.
Reduction in exports of Norwegian Fjord Trout

Exports of Norwegian Fjord Trout in the first quarter of 2010 declined by NOK 49 million to NOK 419 million. This is due to a reduction in the volume of exports of 27% to 11,581 tonnes. In the first quarter, the average price of fresh Norwegian Fjord increased by NOK 8.77 to NOK 37.06 per kg. Following a tenfold increase in exports to China, the country has now become the second biggest export market for Norwegian Fjord Trout after Russia.