Norway’s salmon exports reach record highs in July despite falling prices
Norwegian seafood exports hit a July record of NOK 13.9 billion ($1.35 billion/€1.18 billion), up NOK 1.1 billion ($107 million/€94 million) or 8 percent on the same month last year, driven by strong salmon volumes and a surge in demand from China, according to figures published Monday by the Norwegian Seafood Council.
Salmon accounted for NOK 10.2 billion ($991 million/€867 million) of the total, with a record 136,054 tonnes exported—28 percent more than in July 2024.
This comes despite lower prices, reflecting high supply and a shift in global consumption patterns.“This is a remarkably strong July for Norwegian seafood exports in terms of value,” said Christian Chramer, CEO of the Norwegian Seafood Council. “High salmon volumes and impressive value growth to China were the main drivers.”
China overtakes the US as growth engine
\China was the fastest-growing market in July, with seafood exports rising 88 percent year-on-year to NOK 1.3 billion ($126 million/€111 million). Of that, NOK 339 million ($33 million/€29 million) came from salmon alone—a rise of 80 percent in value.
Export volume to China reached 9,950 tonnes, up 121 percent from the same month last year.“The Chinese salmon market is experiencing exceptional growth,” said Sigmund Bjørgo, the Council’s envoy to China.
“Norway’s market share hit 71 percent in June—our highest in China in 15 years.”Chramer added: “Salmon is the main driver of export value to China. A combination of record-high available volumes, lower prices and new sales channels has helped sustain the momentum.”
Poland remains top destination
Poland retained its position as the largest single destination by value, importing NOK 1.7 billion ($165 million/€145 million) of Norwegian seafood in July—up 23 percent year-on-year. Most salmon exported to Poland is processed for re-export to markets such as Germany, the Czech Republic and Italy, where demand for fresh fillets is rising.
“Strong growth in consumption of fresh salmon fillets in Europe is contributing to increased processing in Poland,” said seafood analyst Paul T. Aandahl.
US growth slows amid tariff pressure
The US imported NOK 1.1 billion ($107 million/€94 million) of Norwegian seafood in July, a 17 percent increase on last year. However, the pace of growth is slowing.
“Overall salmon exports to the US rose just 3 percent in value, despite a 16 percent rise in volume,” Aandahl noted. “While higher tariffs may be having some effect, the price drop is largely due to the sharp rise in global supply.”The US had been Norway’s largest market earlier this year, but was overtaken by both Poland and China in June and July.
Export value nears NOK 100 billion mark
For the year to date, Norwegian seafood exports total NOK 99 billion ($9.60 billion/€8.42 billion)—matching the full-year value for 2018. In addition to salmon and trout, July also saw year-on-year growth in exports of king crab, prawns, and snow crab.
“Even in a challenging global trade environment, Norwegian seafood holds a strong position,” said Chramer.
Top five markets for Norwegian seafood exports in July (by value):
- Poland – NOK 1.7 billion (+23%)
- China – NOK 1.3 billion (+88%)
- USA – NOK 1.1 billion (+17%)
- Netherlands – NOK 897 million (–7%)
- Denmark – NOK 793 million (–21%)
Currency conversions based on NOK 1 = $0.097 / €0.085.
