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Record High Value for Norwegian Seafood Exports During First Half of 2014

08 July 2014

NORWAY - The value of Norwegian seafood exports during the first half of 2014 totalled NOK 32.7 billion. This is an increase of NOK 5.3 billion, or 22 per cent, compared to the same period in 2013.

Never before has such a high export value for Norwegian seafood been registered as during the first half of 2014, while at the same time, a new record was set in June. The value of Norwegian seafood exports increased by NOK 417 million, or ten per cent, compared to the same month last year.

“Norway is a major supplier of seafood on the global market and the demand for Norwegian products was extremely high during the first half of the year. The increase in seafood exports is primarily attributable to the fact that the demand for salmon exceeded the supply and consumers in our traditional cod markets have demanded cod products from Norway after a record winter fishing season,” says Egil Ove Sundheim, Director of market information at the Norwegian Seafood Council.

Norwegian salmon exports set new record

The value of Norwegian salmon exports during the first half of the year totalled NOK 21.5 billion, an increase of NOK 4.1 billion, or 24 per cent, compared to the same period last year. During the month of June alone, the increase was NOK 400 million, or 14 per cent, to a total export value of NOK 3.3 billion.

The average price for fresh whole Norwegian salmon in June was NOK 36.03, compared to NOK 40.97 in June 2013. As in the previous month, the largest markets for Norwegian salmon were Poland, France and Russia.

The volume of exports of Norwegian fjord trout in the first half of 2014 increased by NOK 228 million, or 22 per cent, to a total export value of NOK 1.2 billion. In June, exports increased by NOK 7 million, or four per cent, to a total of NOK 182 million. The biggest markets for Norwegian Fjord Trout are Russia and Japan.

Herring down, mackerel up

Herring exports fell in value during the first half of the year by NOK 140 million, or ten per cent, to a total value of NOK 1.3 billion. The value of exports of herring in June totalled NOK 195 million, down by NOK 76 million, or 28 per cent. Russia and Germany are the largest markets for Norwegian herring.

Mackerel exports increased in value during the first half of 2014 by NOK 260 million, or 41 per cent, to a total of NOK 900 million. Exports in June were up NOK 35 million, or 50 per cent, to a total of NOK 104 million. China and Nigeria are the biggest markets for mackerel.

Clipfish and salted fish exports up

Exports of clipfish increased in value during the first half of the year by NOK 77 million to reach a total of NOK 1.5 billion. Measured in total export value, exports in June were up NOK 25 million, or 13 per cent, to a total of NOK 226 million. This figure breaks down into NOK 737 million for cod, NOK 612 million for saithe, NOK 48 million for ling, NOK 44 million for cusk and NOK 12 million for other white fish during the first six months of the year.

The value of exports of salted fish, including fillets, was up by NOK 138 million, or 25 per cent, during the first half of the year, to a total export value of NOK 690 million, of which NOK 652 million was accounted for by cod exports.

Growth in exports of fresh and frozen Norwegian cod

Exports of fresh Norwegian cod, including fillets, during the first six months of 2014 increased in value by NOK 333 million, or 40 per cent, to a total of NOK 1.2 billion. Exports of frozen Norwegian cod, including fillets, also increased in value during the first half of the year by NOK 245 million, or 30 per cent, to a total of NOK 1.1 billion. Measured in value, 97 per cent of fresh and 60 per cent of frozen fish are exported to the EU. The remaining frozen cod was exported primarily to China.

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