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Norwegian Seafood Exports Worth NOK 42.6 billion in First Six Months of 2016

05 July 2016

NORWAY - Norway exported seafood worth NOK 42.6 billion in the first six months of 2016. This is an increase of 25 per cent or NOK 8.6 billion when measured against the first six months of 2015.

"The Norwegian seafood industry experienced enormous growth in export value in the first six months. The price of salmon is grabbing the most headlines, but the entire seafood industry has had a fantastic first six months. These good results show that there is great demand and that we are achieving good prices for Norwegian seafood. A favourable foreign currency situation is, of course, contributing positively," says Geir Håvard Hanssen, Director of Communications at the Norwegian Seafood Council.

Twenty-eight per cent growth in salmon

NOK 27.9 billion worth of salmon was exported in the first six months. This is an increase of 28 per cent or NOK 6.2 billion when measured against the first six months of 2015. The average price for fresh whole Norwegian salmon in June was NOK 65.43, per kg versus NOK 40.85 per kg in June of last year.

"Increased demand for salmon globally in combination with reduced export volume from Norway has driven the price upwards. The EU market has kept its share of Norwegian exports, while exports to the US have increased and are now responsible for 6 per cent of the Norwegian salmon exports,” says Paul T. Aandahl, Analyst with the Norwegian Seafood Council.

Norway exported trout worth NOK 1.9 billion in the first six months. This is an increase of 103 per cent or NOK 978 million compared with the first six months of last year.

Increase for fresh and frozen cod

Fresh cod, including fillets, worth NOK 1.6 billion was exported in the first six months. This is an increase of 16 per cent or NOK 218 million compared with the first six months of 2015. Frozen cod, including fillets, worth NOK 1.3 billion was exported in the first six months. This is an increase of 40 per cent or NOK 364 million compared with the first six months of 2015.

"Norway exported cod and haddock worth a combined total of more than NOK 5.8 billion in the first six months of 2016, which is a record for both species. Fresh and frozen products in particular are ramping up, but with good prices in almost all product categories, we're ending up with the best six months ever for the whole cod category," says Ørjan Olsen, Analyst with the Norwegian Seafood Council.

Down for clipfish, up for herring and mackerel

NOK 1.6 billion worth of clipfish was exported in the first six months. This is a decrease of 12 per cent or NOK 229 million compared with the first six months of 2015. NOK 898 million of salted fish was exported in the first six months. This is an increase of 6 per cent.

Norway exported herring worth NOK 1.4 billion in the first six months. This is an increase of 52 per cent or NOK 476 million compared with the first six months of 2015. Norway exported mackerel worth NOK 1.2 billion in the first six months, which is an increase of 37 per cent.

"Price and volume growth for both herring and mackerel have increased the export value for pelagic fish in the first six months of 2016. The largest growth markets for herring so far this year have been Poland and Germany, while Japan and Ghana are the markets which have increased the most for mackerel," says Paul T. Aandahl, Analyst with the Norwegian Seafood Council.

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