Fish processing. (Photo Credit: The Norwegian Ministry of Fisheries and Coastal Affairs)

Seafood exports fall although salmon rises

NORWAY
Monday, March 11, 2013, 01:20 (GMT + 9)

The value of seafood exports in February totalled NOK 4.2 billion (EUR 565.2 million). Despite record exports of salmon, the total export value was down by NOK 300 million (EUR 40.4 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 salmon.

This year to date, the value of seafood exports has totalled NOK 8.9 billion (EUR 1.2 billion). This is an increase of NOK 326 million (EUR 43.9 million) compared to the same period last year, according to the latest figures from the Norwegian Seafood Council (NSC).

Higher prices and record exports for salmon

The value of salmon exports in February totalled NOK 2.5 billion (EUR 336.4 million). This is 20 per cent higher than in February last year. This year to date, the value of salmon exports has totalled NOK 5.3 billion (EUR 713.2 million).

The EU markets won the fight for 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 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 salmon in February was NOK 37.61 (EUR 5.06) 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 (EUR 1.27) and even since January the price has gone up by NOK 2.90 per kg (EUR 0.39).

Downturn for herring and mackerel

Exports of herring in February fell in value by NOK 344 million (EUR 46.3 million) or 57 per cent to a total of NOK 262 million (EUR 35.3 million). The downturn is largely attributable to reduced quotas of the ‘silver of the sea’.

Germany was the biggest market for herring in February, with exports valued at NOK 43 million (EUR 5.8 million), closely followed by Poland with an export value of NOK 40 million (EUR 5.4 million). This year to date, the value of exports of herring has totalled NOK 626 million (EUR 84.2 million), a decline of NOK 584 million (EUR 78.6 million) or 48 per cent compared to the same period last year.

Exports of mackerel were also down in February, showing a drop in value of NOK 59 million (EUR 7.9 million) or 23 per cent to a total of NOK 192 million (EUR 25.8 million). China was the biggest mackerel market in February, with exports valued at NOK 37 million (EUR 5 million), followed by Russia and Turkey.

This year to date, the value of exports of mackerel has totalled NOK 372 million (EUR 50 million), down by NOK 266 million (EUR 35.8 million) or 42 per cent compared to February 2012.

Increase in exports of fresh and frozen cod

In February, the value of exports of fresh and frozen cod increased by NOK 39 million (EUR 5.2 million) to a total of NOK 476 million (EUR 64 million). The EU is the most important market, with the value of exports in February up by NOK 39 million (EUR 5.2 million) or 16 per cent to a total of NOK 347 million (EUR 46.7 million).

This year to date, the value of exports of cod has totalled NOK 997 million (EUR 134.2 million), an increase of NOK 77 million (EUR 10.4 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 (EUR 22.3 million) or 51 per cent to a total of NOK 158 million (EUR 21.3 million). Portugal was the biggest market in February with exports valued at NOK 50 million (EUR 6.7 million), followed by Brazil with exports of NOK 31 million (EUR 4.2 million).

So far this year, the value of exports has totalled NOK 572 million (EUR 77 million), a decline of NOK 92 million (EUR 12.4 million) or 14 per cent.

Exports of salted fish in February fell by NOK 15 million (EUR 2 million) or 12 per cent to a total of NOK 109 million (EUR 14.7 million). Portugal remains the biggest market for salted fish, with exports in February valued at NOK 64 million (EUR 8.6 million), an increase of NOK 5 million (EUR 672,865) compared to February 2012.

Greece was the second biggest market for salted fish in February, with exports valued at NOK 23 million (EUR 3 million), equalling February 2012. This year to date, exports have been down in value by NOK 15 million (EUR 2 million) to a total of NOK 146 million  (EUR 19.6 million) or 9 per cent.

Related article:

- Seafood exports up by 15pc in January

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