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Currency Invoicing in Norwegian Salmon Export

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  • Hans-Martin Straume

Abstract

The purpose of this article is to examine the choice of currency for Norwegian salmon exporters. The choice of invoicing currency will affect prices in different markets as well as risk, factors that are increasingly important as the supply chain for salmon is becoming more sophisticated and more transactions mechanisms are introduced. The results indicate that destination-specific market characteristics have impacts as to the choice of invoicing strategy. Norwegian salmon exporters primarily invoice in the export market currency (47% of the exported quantity), but also use a vehicle currency and producer pricing (19%) in a significant number of transactions. The euro is the preferred vehicle currency (18%), closely followed by the US dollar (USD) (16%). The USD is the dominating invoicing currency for exports beyond Europe.

Suggested Citation

  • Hans-Martin Straume, 2014. "Currency Invoicing in Norwegian Salmon Export," Marine Resource Economics, University of Chicago Press, vol. 29(4), pages 391-409.
    • Handle: RePEc:ucp:mresec:doi:10.1086/678930
    DOI: 10.1086/678930
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    Cited by:

    1. Asche, Frank & Oglend, Atle, 2016. "The relationship between input-factor and output prices in commodity industries: The case of Norwegian salmon aquaculture," Journal of Commodity Markets, Elsevier, vol. 1(1), pages 35-47.
    2. Ruth Eegunjobi & Nicholas Ngepah, 2022. "Dynamic Relationships between Seafood Exports, Exchange Rate and Industrial Upgrading," Sustainability, MDPI, vol. 14(13), pages 1-16, June.
    3. Straume, Hans-Martin, 2015. "Trade costs and Norwegian salmon export," Working Papers in Economics 06/15, University of Bergen, Department of Economics.
    4. Asche, Frank & Misund, Bård & Oglend, Atle, 2016. "Determinants of the Atlantic salmon futures risk premium," Journal of Commodity Markets, Elsevier, vol. 2(1), pages 6-17.
    5. Bendik P. Andersen & Petter E. de Lange, 2021. "Efficiency in the Atlantic salmon futures market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(6), pages 949-984, June.
    6. Misund, Bård, 2018. "Common and fundamental risk factors in shareholder returns of Norwegian salmon producing companies," Journal of Commodity Markets, Elsevier, vol. 12(C), pages 19-30.
    7. Vårdal, Erling & Asche, Frank & Straume, Hans-Martin, 2017. "Perish or prosper: Trade patterns for highly perishable products," 2017 International Congress, August 28-September 1, 2017, Parma, Italy 261278, European Association of Agricultural Economists.
    8. Misund, Bård, 2015. "Financial Ratios and Prediction on Corporate Bankruptcy in the Atlantic Salmon Industry," UiS Working Papers in Economics and Finance 2015/9, University of Stavanger.
    9. Asche, Frank & Misund, Bard & Oglend, Atle, 2015. "The Spot-Forward Relationship in the Atlantic Salmon Market," UiS Working Papers in Economics and Finance 2015/16, University of Stavanger.
    10. Asche, Frank & Misund, Bard & Oglend, Atle, 2015. "Production Risk and the Futures Price Risk Premium?," UiS Working Papers in Economics and Finance 2015/13, University of Stavanger.
    11. Frank Asche & Hans‐Martin Straume & Erling Vårdal, 2021. "Perish or prosper: Trade patterns for highly perishable seafood products," Agribusiness, John Wiley & Sons, Ltd., vol. 37(4), pages 876-890, October.

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