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High Value Salmon and Cod Exports in February

08 March 2013

NORWAY - The value of Norwegian seafood exports in February totaled NOK 4.2 billion. Despite record exports of Norwegian Salmon, the total export value was down by NOK 300 million compared to February last year. A fall in the value of exports of herring, clipfish and salted fish outweighed the increase in prices for Norwegian Salmon.

This year to date, the value of Norwegian seafood exports totals NOK 8.9 billion. This is an increase of NOK 326 million compared to the same period last year, according to the latest figures from the Norwegian Seafood Council.

"The increase is attributable to higher prices for Norwegian Salmon, which have sent the value of Norwegian Salmon exports soaring by 20 per cent," explains Egil Ove Sundheim, director of market information at the Norwegian Seafood Council.

"However, the broader picture is not entirely positive, as a reduction in exports of herring and a downturn in prices for clipfish and salted fish mean that total exports are lower than at this time last year."

Higher prices and record exports for Norwegian Salmon

The value of Norwegian Salmon exports in February totalled NOK 2.5 billion. This is 20 per cent higher than in February last year. This year to date, the value of Norwegian Salmon exports totals NOK 5.3 billion.

"Continued demand for Norwegian Salmon globally, and especially in our nearby European markets, is pushing prices up and in the process setting new export records for the month of February," says senior analyst Paul T. Aandahl from the Norwegian Seafood Council.

The EU markets won the fight for Norwegian Salmon in February. The total volume of exports in February totalled 66,000 tonnes and while this is a reduction of 6 per cent overall, the EU markets upped their import volume by 3 per cent . Poland and the UK, in particular, bought substantial volumes of Norwegian Salmon in February, while eastern Europe and especially Russia seems to have backed off from bidding high prices. The drop in exports to eastern Europe and Asia in February was 24 per cent and 20 per cent respectively.

The average price for fresh whole Norwegian Salmon in February was NOK 37.61 per kg. Not since May 2011 has the price been higher. Compared to the average price in February 2012, this is an increase of NOK 9.46 per kg and even since January the price has gone up by NOK 2.90 per kg.

Downturn for herring and mackerel

Exports of Norwegian Herring in February fell in value by NOK 344 million or 57 per cent to a total of NOK 262 million. The downturn is largely attributable to reduced quotas of the ‘silver of the sea’.

Increase in exports of fresh and frozen Norwegian Cod

In February, the value of exports of fresh and frozen Norwegian Cod increased by NOK 39 million to a total of NOK 476 million. The EU is our most important market, with the value of exports in February up by NOK 39 million or 16 per cent to a total of NOK 347 million.

This year to date, the value of exports of Norwegian Cod totals NOK 997 million, an increase of NOK 77 million compared to the same period last year.

Decline in exports of clipfish and salted fish

Exports of clipfish fell in value in February by NOK 166 million or 51 per cent to a total of NOK 158 million. Portugal was the biggest market in February with exports valued at NOK 50 million, followed by Brazil with exports of NOK 31 million.

So far this year the value of exports totals NOK 572 million, a decline of NOK 92 million or 14 per cent .
Exports of salted fish in February fell by NOK 15 million or 12 per cent to a total of NOK 109 million. Portugal remains the biggest market for salted fish, with exports in February valued at NOK 64 million, an increase of NOK 5 million compared to February 2012. Greece was the second biggest market for salted fish in February, with exports valued at NOK 23 million, equalling February 2012.
This year to date, exports are down in value by NOK 15 million to a total of NOK 146 million or 9 per cent .

TheFishSite News Desk



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