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​Record 26 per cent Growth for Norwegian Seafood Exports

10 October 2016

NORWAY - Norway has beaten all previous records and exported seafood worth NOK 65 billion this year to date. This is an increase of 26 per cent or NOK 13.2 billion compared with the same period last year.

September exports marked an all time high, totalling NOK 8.8 billion. An increase of 31 per cent or NOK 2.1 billion from September 2015.

”The value of Norwegian seafood exports have doubled over the past six years. September exports alone are equal to seafood exports for the whole of 1990. Norwegian seafood is a scarce resource in the world market. With stable volumes supporting this growth in demand coupled with high prices for most products and this explains the basis of our record year to date,” says Communications Director Geir Håvard Hanssen with the Norwegian Seafood Council.

”The value of seafood exports to markets that just ten years ago were quite modest, is now two, five, and in the case of South Korea, nine times larger. USA, Italy and South Korea are good examples of strong growth markets and they demonstrate the breadth of Norwegian seafood exports. Norway exports now a quite a lot of salmon, trout, cod and crab to the USA, whilst Italy, which has a long tradition as a stockfish market has also now developed an appetite for Norwegian salmon. To South Korea we now export large quantities of salmon for raw consumption, as well as crab and mackerel,” says Communications Director Geir Håvard Hanssen with the Norwegian Seafood Council.

30 per cent increase for salmon

Norway has exported salmon to a value of NOK 44 billion so far this year. This is an increase of 30 per cent or NOK 10.1 billion compared to the same period last year. The average price for whole fresh salmon in the month of September was NOK 54.59 per kg compared with NOK 41.70 per kg in September 2015.

”The export price for fresh whole salmon so far this year has been 41 per cent higher than during the same period last year. This is due to a combination of reduced export volumes and a strong demand for Norwegian salmon. In the last two months, however, export volumes have increased compared to the same period in 2015, which has meant that the price of salmon has been somewhat reduced. The price for fresh whole salmon in September was NOK 12.89 per kg higher than in September 2015, which underpins the strong demand for Norwegian salmon”, says Morten Lindrupsen, Analyst with the Norwegian Seafood Council.

Norway has exported trout to a value of NOK 3 billion year to date. This is an increase of 98 per cent or NOK 1.5 billion compared with the same period last year.

Increases for exports of both fresh and frozen cod

Norway has exported fresh cod, including fillets, worth NOK 1.8 billion this year to date. This is an increase of 13 per cent or NOK 213 million compared to the same period last year.

Norway has exported frozen cod, including fillets, worth NOK 1.8 billion during the third quarter. This is an increase of 36 per cent or NOK 487 million from the same period in 2015.

”Norway has exported cod, saithe, haddock and other demersal to a value of NOK 10.3 billion so far this year. This is an increase of 9 per cent, or NOK 842 million from the same period last year. This growth is mainly due to increased volumes of fresh and frozen products,” says Ingrid Kristine Pettersen, Analyst with the Norwegian Seafood Council.

Clipfish exports are down but salted fish exports are up

Norwegian clipfish exports have totalled NOK 2.6 billion so far this year. This is a decrease of 9 per cent or NOK 252 million compared with the same period last year.

Norway has exported salted fish worth NOK 1 billion so far this year. An increase of 8 per cent or NOK 77 million from the same period last year.

45 per cent growth for herring exports

Norway exported herring totalling NOK 2.1 billion so far this year. This is an increase of 45 per cent or NOK 648 million from the same period in 2015.

Norway has exported mackerel 1.8 billion. This is an increase of 13 per cent or 204 million from the same period last year.

”Strong demand for herring in the European markets and relatively low quotas has resulted in high prices so far this year, but the remaining quota for the rest of the year is significantly lower than in previous years. This has meant that Germany and Poland have bought twice as much fileted products as during the same period last year, despite higher prices,” says Kristin Lien, Analyst with the Norwegian Seafood Council.

“The Norwegian mackerel season is underway and the strong demand we are seeing especially from Asian markets has resulted in higher prices at the start of the fall season than was the case in 2015,” said Lien.

Growth in crab exports

Norway has exported crab worth NOK 731 million so far this year. This is an increase of 89 per cent or NOK 344 million compared with the same period last year.

Of the totals for crab exports so far this year, Norway has exported red king crab worth NOK 414 million, and snow crab worth NOK 286 million.

TheFishSite News Desk



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