Salmon Scotland anticipates that sales of Scottish salmon could achieve record-breaking figures following an impressive £431 million in revenue generated during the first half of 2024.
Between January and June of 2024, Scottish salmon exports have reportedly amassed £431 million in value, reinforcing its status as the UK’s largest food export. This remarkable performance reflects not just a surge in demand but also the industry’s strategic efforts to expand its presence in global markets.
Additionally, the volume of fish transported throughout this period experienced a notable increase of 12%. This rise is indicative of enhanced harvest volumes when compared to the same timeframe the previous year, highlighting the industry’s capacity to meet growing demand effectively.
Salmon Scotland conducted an in-depth analysis based on HMRC figures, comparing export values from the first half of 2024 with those from the first half of 2023. The findings underscore significant growth in key international markets:
- Exports to France: Up 91% to £261 million
- Exports to the USA: Up 18% to £91 million
- Exports to China: Up 26% to £42 million
- Exports to Taiwan: Up 41% to £12 million
- Exports to Singapore: Up 57% to £4 million
Moreover, the total export sales of fresh, whole Scottish salmon for the 12 months leading up to June reached an impressive £706 million, signifying a 17% year-on-year increase. Given these trends, Salmon Scotland projects that the total export sales for the entire year of 2024 could exceed the previous calendar record of £617 million that was established in 2019.
Furthermore, Salmon Scotland reported that the UK domestic market for salmon is valued at approximately £1.2 billion annually. The sector’s Gross Value Added (GVA) contributes about £766 million to both the Scottish and broader UK economy, emphasizing its critical role in driving economic growth.
UK Government Acknowledges Salmon Industry Growth
The recent figures have garnered significant attention, with UK Trade Policy Minister Douglas Alexander expressing strong support for the salmon sector’s contribution to the national economy. He stated, “These figures are hugely encouraging and show strong demand for our high-quality salmon in Asia and America – some of the most exciting markets in the world.” This endorsement underscores the government’s commitment to fostering economic growth across diverse sectors.
Moreover, Alexander praised the dedication of those involved in the salmon industry, acknowledging their efforts in creating a product that is esteemed worldwide. He added, “Economic growth is at the heart of everything this UK Government does, which is why we are working hard to open up new markets for Scottish goods and services.”
“Both the UK and Scottish Governments acknowledge the potential for continued sustainable growth, positioning Scotland to lead the world in the blue economy and expand the availability of one of the most nutritious foods we have.”
Tavish Scott, the chief executive of Salmon Scotland, also commented on the positive export figures, stating, “These latest export figures show another period of remarkable success for Scottish salmon, reflecting the hard work and dedication of our farmers and the growing global demand for our nutritious fish.” His remarks highlight the importance of sustainable farming practices in the waters off the Highlands and islands of Scotland, with a strong emphasis on animal welfare.
Scott further elaborated, “Sustainably farmed in the waters off the Highlands and islands, with a top priority given to animal welfare, Scottish salmon’s exceptional quality is recognised worldwide, making it the UK’s top food export.” The economic impact is significant, generating hundreds of millions of pounds for the UK economy and creating thousands of jobs, both of which are vital for supporting remote coastal communities.
Additionally, Deputy First Minister of Scotland, Kate Forbes, stated, “These exceptional figures clearly demonstrate the surging global demand for Scottish salmon, which is correctly recognised as a premium high-quality product.” She emphasized the critical role of the Scottish farmed salmon sector in the economy, particularly in providing well-paid jobs in Scotland’s rural and island communities.
Forbes also reiterated the Scottish Government’s commitment to collaborating with industry stakeholders to bolster sector growth in international markets while solidifying its premier status in domestic markets. She concluded, “In doing so, we will continue to drive sustainable growth, which will have significant economic benefits.”
