Norwegian rainbow trout exports to Vietnam surged by 186% in August.

According to data from the Norwegian Seafood Council (NSC), in August, Norway exported 367 tons of rainbow trout to Vietnam, valued at 16 million Norwegian kroner (approximately 1.6 million USD), marking a year-on-year increase of 186% and 167% respectively. This stands in stark contrast to the overall trend of a 6% year-on-year decline in rainbow trout exports and a 16% drop in export value. Compared to the general contraction in markets such as Ukraine, Lithuania, and the United States, Vietnam stands out as a bright spot.

From January to August this year, Norway's exports of salmon and rainbow trout to Vietnam increased by 25% in volume and 18% in value; among these, exports of fresh whole fish amounted to 5,414 tons, a year-on-year increase of 64%, fresh fillets tripled to 98 tons, frozen fillets surged nearly fivefold to 650 tons, and frozen whole fish nearly tripled to 600 tons, with rainbow trout accounting for 400 tons, a year-on-year surge of 381%.

Ashild Nakken, NSC's Director for Southeast Asia, pointed out that the price drop is the main driver: as of August, the average price of fresh salmon dropped by 18% year-on-year, and fresh rainbow trout by 12%, with the price difference between the two having been minimal since June, further driving demand expansion.

Vietnam's young demographic structure and rapidly growing consumer capacity also provide support. The country has a population of about 100 million with an average age of only 34, and its modern retail and dining networks in Hanoi and Ho Chi Minh City are developing rapidly. Currently, Vietnam has about 2,500 Japanese restaurants, making it one of the most popular foreign cuisines, with seafood being the core of Japanese food consumption.

At the same time, by-products of Norwegian salmon (such as fish heads and fish bellies) are also popular in the Vietnamese market. In the first eight months of this year, exports amounted to 6,082 tons, a year-on-year increase of 9%, and are mostly used for local consumption, gradually cultivating consumer habits for high-value cut products.

Improved logistics also contributed to market expansion. Ethiopian Airlines launched a direct cargo route from Oslo to Hanoi this year, extending to Bangkok, with the first flight delivering fresh salmon directly to Vietnam, seen as a "milestone in seafood exports," significantly reducing transportation time.

Looking at Southeast Asia, from January to August this year, Norway exported 104,000 tons of seafood to the region, valued at 6.3 billion Norwegian kroner, with year-on-year growth of 13% and 11% respectively. Among these, the Philippines saw the fastest growth (62%), followed closely by Vietnam at 18%, and playing a pivotal role in the export of processed mackerel.

With price adjustments, consumer upgrades, and improved logistics, Vietnam is becoming a strategic breakthrough for Norwegian seafood companies in Southeast Asia. The industry generally believes that the market has enormous growth potential and is expected to drive the continued expansion of overall regional demand.