Record high first-hand value of salmon

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In 2017, the first-hand value of Norwegian farmed salmon came to NOK 61.4 billion. This is more than double that of five years ago, and up 2 per cent from the previous year.

Written by: Anne Turi Baklien

According to preliminary figures for Aquaculture, the total production of Norwegian farming of fish and shellfish was 1.3 million tonnes in 2017, corresponding to a first-hand value of NOK 64.7 billion. This is a decrease of 3 per cent for sold quantity and an increase of 1 per cent for first-hand value.

Rise in sale prices of salmon

Salmon was the main product both in terms of quantity and value. The first-hand value of farmed salmon was NOK 61.4 billion in 2017. This is 2 per cent higher than the year before, and a new record high for farmed salmon. In the same period, the quantity sold fell 1 per cent, giving a total of 1.22 million tonnes. The average price per kilo for salmon was NOK 50.35, an increase of 3 per cent from the previous year.

Figur 1

Figure 1. Sales of salmon. Quantity and first hand value

Less production of trout

A total of 65 400 tonnes of farmed trout was sold in 2017, corresponding to a first-hand value of NOK 3.0 billion. This is a decrease of 26 per cent for quantity sold and 18 per cent for value. The average price per kilo increased by 10 per cent, to NOK 46.31 in 2017.

Figur 2

Figure 2. Sales of rainbow trout. Quantity and first-hand value

Shellfish and other species worth NOK 261 million

Shellfish and species other than salmon and trout account for a small part of Norwegian fish farming. Of these species, 5 100 tonnes worth NOK 261 million was produced in 2017. In this group of species, shellfish accounted for 47 per cent of produced quantity and 12 per cent of first-hand value. 

Figure 3. Sales of other fish species. Quantity

Cod Char Halibut
1997 304 350 113
1998 199 190 290
1999 157 498 451
2000 170 282 562
2001 535 317 377
2002 1258 319 424
2003 2185 272 426
2004 3165 324 648
2005 7409 352 1197
2006 11087 897 1185
2007 11104 394 2308
2008 18052 468 1587
2009 20924 421 1568
2010 21240 492 1610
2011 15273 276 2767
2012 10033 309 1740
2013 3770 1385
2014 1386 1257
2015 260 1244
2016 333 1460
2017* 365 1623

New conversion factors from 2000

Quantity is quoted as round weight. Fish that is delivered gutted is converted into round weight. The conversion factors from NS 9417 were adopted in 2000. The new conversion factors are as follows, with the old factors in parenthesis: salmon gutted with head - 1.125 (1.125), salmon gutted and decapitated - 1.266 (1.2857), rainbow trout gutted with head - 1.135 (1.125) and rainbow trout gutted and decapitated - 1.266 (1.2857).

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