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Atle Willems, CFA
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Atle Willems is an independent economic analyst and equity investor with a long-term view investing in undervalued listed shares with solid operational track records and sensible balance sheets. He holds a master's degree in finance with distinction from Nottingham University Business School, a... More
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  • Weekly Seafood Update: Norwegian Farmed Salmon Exports, Week 36 2012  0 comments
    Sep 15, 2012 8:02 AM

    Statistics Norway reported an export of 17,261 metric tonnes of fresh/chilled and frozen farmed salmon from Norwegian salmon farmers in week 36, 2012. On a rolling average four week basis volume in tonnes exported were up 15.7% (2,269 tonnes) on the same period last year.

    The weighted average price per kilo for the week was NOK 28.66 and was up 1.6% YoY on a rolling average four week basis.

    The value of exports for the week was NOK 494.751 million, an increase of 17.8% (NOK 71.325 million) on last year on a rolling average four week basis.

    The trend reported for many weeks now has changed: total tonnes exported continue to increase on last year, but instead of prices declining they are now increasing on last year. The total value of exports therefore also continue to increase on last year and the percentage increase for the week was the highest reported for 72 weeks. The percentage increase in tonnes exported as of week 36 (rolling four week basis) was again lower than that reported last week, but volume continues to increase substantially. For the first time in 68 weeks, the average price per kilo increased on last year (rolling four week basis) as predicted. As prices fell rapidly at this time last year and assuming no sudden collapse in prices over the coming weeks, prices should continue to show an increase on last year in the weeks to come. The value of exports increased YoY for the 15th 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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    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: I have long positions in some of the Norwegian farmed salmon producers.

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