The Russian sanctions against import of Norwegian salmon do not seem to have had crucial impacts on the business so far. Salmon is a global commodity and Norway is not depended on single markets, exporters say. Last week Norway sold 15 percent more salmon than in the same period last year.
“The global salmon market is increasing every year. There is a growth in demand and more and more are buying Norwegian salmon around the world. Norwegian exporters are adept at turning t to new markets when problems arise, Paul Aandal, who is branch manager for salmon and trout in the Seafood Council, says to NRK.
The Norwegian Seafood Council has decided to put all planned investments in Russia on hold, and move the funds to other markets. A total of NOK 60 million (€7.3 million) of the planned investments and from the industry’s own reserve funds will be invested in France, Italy, Germany, Great Britain, Japan and Norway, the council’s web site reads.
As BarentsObserver reported, the price of salmon in Russla has soared since the import ban.
Russia was until the sanctions a very important marked for herring. Previously, the Seafood Council also prepared to invest reserve funds for the pelagic sector. However, the board and the advisory board for pelagic sector in the Norwegian Seafood Council decided to await the situation to get an even better understanding of the consequences of the import ban, and will not immediately invest the NOK 15 million reserved by the board.
