For all the latest industry news, markets and jobs in aquaculture
The strong dollar and a growing economy are among the reasons why the United States has emerged as Norway’s largest single market for seafood, according to the Norwegian Seafood Council.
Salmon heads the list of Norway’s seafood exports to the US, and a fall in salmon exports from other countries, such as Scotland where biological issues have led to reduced production, could be another factor.
The Seafood Council reported on Friday that exports to the US are at their highest level for more than 30 years.
Inflation is at 6.5% and falling, compared with over 8.5% in the European Union and around 10% in the UK, which means Americans are likely to have more money to spend on quality foods.
Anne-Kristine Øen, the Norwegian Seafood Council’s US envoy said: “We are seeing a strong increase in demand for Norwegian salmon in the American market.
“There could be several reasons for this. Both a strong dollar and reduced competition from salmon from other nations contribute positively.
“The demand for salmon in general has increased sharply after the pandemic. We had increased food prices through 2022, and the salmon is still competitive in price compared to other proteins,” she adds.
Seafood Council analyst Paul
said lower volumes were driving up prices, making salmon 32% higher than a year ago.
But some of the shine may be coming off Europe where seafood consumption is reported to be falling, most notably in Spain which reported a near 15% drop recently.
Aandahl said: “We are also seeing a turnaround in the flow of goods. In January, a full 34% of the salmon, measured in value, went to markets outside Europe.
“We have to go all the way back to 1989 to find a higher figure. Increased export volume and high prices to both the USA and China have contributed most to this turnaround.”
Meanwhile, sales of Norwegian farmed cod continue to make steady progress with sales in January rising by 77 tonnes to 631 tonnes, with a value of NOK 31 million (around £2.6m).
Paul Aandahl
Click here to sign up
We at Fish Farmer Magazine endeavor to ensure that all our reports are fair and accurate and comply with the Editors’ Code of Practice set by the Independent Press Standards Organisation (IPSO). We realise, however, that mistakes happen from time to time. If you think we have made a significant mistake and you wish to discuss this with us, please let us know as soon as possible by any of the three methods: emailing; telephoning the editor on 0131 551 7904; writing to the Editor at Fish Farmer Magazine, 496 Ferry Road, Edinburgh, EH5 2DL. We will attempt to resolve your issue in a timeous, reasonable and amicable manner. However, if you are unsatisfied with our response, you can contact IPSO, which will investigate the matter. You can either telephone IPSO on 0300 123 2220 or email IPSO is an independent body which deals with complaints from the public about the editorial content of newspapers and magazines. We will abide by the decision of IPSO.