Wednesday, 5 September 2012

Weekly Seafood Update: Norwegian Farmed Salmon Exports, week 35 2012

Statistics Norway reported an export of 17,298 metric tonnes of fresh/chilled and frozen farmed salmon from Norwegian salmon farmers in week 35, 2012. On a rolling average four week basis volume in tonnes exported were up 17.9% (2,474 tonnes) on the same period last year.

The weighted average price per kilo for the week was NOK 29.10 and was down 0.8% YoY on a rolling average four week basis.

The value of exports for the week was NOK 503.357 million, an increase of 17.3% (NOK 67.723 million) on last year on a rolling average four week basis.

The trend reported for many weeks now continues along the same lines with a substantial growth in volume and a decline in price. The total value of exports also continues to increase on last year (as the increase in volume more than offsets the decline in price) and the percentage increase for the week was the second highest reported for 71 weeks (last week was the highest). The percentage increase in tonnes exported as of week 35 (rolling four week basis) was again lower than that reported last week, but volume continues to increase substantially. Prices are still declining compared to the same period last year, but the decline of 0.8% for the week was the lowest decline since this down turn in prices started in week 21, 2011. Echoing the statement in this report last week, as prices fell rapidly at this time last year and assuming no sudden collapse in prices over the coming weeks, prices should soon start to show an increase on last year. The value of exports increased YoY for the 14th week in a row (on a rolling four week basis).

For a Year to Date update on Norwegian Salmon exports (as of week 33), please go here.

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