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Wednesday, 23 January 2013

Rapid Increase in Price, Decline in Volume: Norwegian Farmed Salmon Exports Weekly (week 3 2013)

Statistics Norway reported an export of 15,949 metric tonnes of fresh/chilled and frozen farmed salmon from Norwegian salmon farmers in week 3, 2013. On a rolling average four week basis volume in tonnes exported was down 1.4%% (184 tonnes) on the same period last year.

The weighted average price per kilo for the week was NOK 34.52 and was up 28.6% YoY on a rolling average four week basis.

The value of exports for the week was NOK 550.610 million, an increase of 27.1% (NOK 90.148 million) on last year on a rolling average four week basis.

For the first time in 87 weeks, total tonnes exported decreased on last year on a rolling average four week basis. Prices for the week increased for the 14th week in a row on last year with the YoY percentage increase for the week being the highest recorded for 102 weeks (since week 5 in 2011). The total value of exports continued to increase on last year, driven by the increase in price, and represented the 34th week in a row with an increase on last year (on a rolling four week basis). The YoY percentage increase in the value of exports (rolling four week average) increased at the second fastest pace since week 5 2011 (beaten by previous week). The short term trend has now shifted from an increase in both volume and price to an increase of price only, with the latter gathering pace especially during the last four weeks. The longer term trend still shows an increase in both volume and price, while the value of exports continue to increase both on a short term and long term trend basis.

For the final Year to Date update for 2012 of Norwegian Farmed Salmon exports (as of week 52), please go here.

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