Export value soars 48% in 2009.
31. Aug 2010
During 2009, export of farmed salmon from the Faroe Islands increased a massive 48% in value from DKK 811 million to DKK 1,202 million.
A new supply route to the US going through London Heathrow has made it possible for fresh salmon from the Faroe Islands to reach the US within just 72 hours of harvesting.
US distributers have been taking full advantage of this new opportunity and have become especially fond of big fresh salmon from the Faroe Islands leading to the value of exports of fresh salmon from the Faroe Islands to the US soaring 385% in 2009. With a 25% market share, the US is now the biggest single country importing farmed salmon from the Faroe Islands.
The value of export to traditional EU markets like France and Britain have also been doing very well, jumping 49% and 25% respectively. Demand from Asia has also increased significantly as the value of exports to the continent increased 153% during 2009.
Export Market (Value DKK)
|Rest of EU||89824||106525||19%|
A decrease in global supply of salmon due to problems in Chile have increase global salmon prices, however, this is not the only reason for the impressive increase in value of export of farmed salmon from the Faroe Islands. These numbers also reflect importers’ preference for farmed salmon from the Faroe Islands due to its high quality. According to US Census, farmed salmon from the Faroe Islands received the best average price in the US during January 2010 out of all major segments of farmed salmon.