Norway: Siltanews – News Desk
The value of salmon exported by Norway in 2024 was up 1 per cent to a record breaking 122.9 billion kroner (€10.9 billion) according to the Norwegian Seafood Council (NSC).
Salmon is the most important seafood exported from Norway with 2024 being a record year
Salmon is such a sought after fish that exports of that fish alone accounted for 70 per cent of the total value of Norway’s seafood exports which were themselves 2 per cent up on the previous year.
In 2023, the demand was for large examples of the fish but in 2024, the demand was seen to be across the board at all sizes but there was particular interest in wild-caught species which carried a price premium.
2024 saw an overall reduction in price for many foods due to a fall in inflation which in turn meant that the average price of salmon dropped which makes the overall growth in the value of sales even more impressive.
Although the Norwegian kroner saw growth against a number of international currencies, it remained fairly static against the euro which is the most important export currency for Norwegian seafood.
Growth in Asian markets has continued to be an important factor as far as sales of salmon are concerned and there is a significant demand for Norwegian salmon in China, South Korea, Thailand and Vietnam where it is popular not just as a simple seafood but as an important constituent of sushi, sashimi and poke.
All of this has been achieved despite the higher summer sea temperatures in 2024 which increased production costs in sea farms and the need to earlier harvesting which saw a number of fish having lower weights than in the past.
Poland, the United States, and France were the largest markets for Norwegian salmon last year, while Germany had the highest value growth although the largest percentage growth came from the Ukraine which saw an incredible 80 per cent growth, clearly prompted by the ongoing Russian invasion.