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Export value increased by NOK 1.2 billion.

A Strong Start for the Norwegian Seafood Year – a 15 per Cent Increase from Last Year

  (NORWAY, 2/12/2020)
Norway exported 207,000 tonnes of seafood totalling NOK 9.8 billion in January. Volume is at the same level as last year, while export value increased by NOK 1.2 billion, or 15 per cent, compared with January 2019.

“The Norwegian seafood year starts with a historically high level of January exports. Demand for Norwegian salmon is increasing in all regions, and average prices are considerably higher than in the same period last year. For whitefish, increased volumes and prices of fresh products are contributing to growth in value. We have also seen an increase in value for both trout, herring and mackerel. At the same time, a weak Norwegian kroner against all the important currencies is another explanation for the growth in value”, says Tom-Jørgen Gangsø, Director of Market Insight and Market Access at the Norwegian Seafood Council.

233 tonnes of king crab were exported to a value of NOK 76 million.

Huge value growth for salmon exports

88,000 tonnes of salmon were exported with a value of NOK 6.8 billion in January. This is an increase in volume of 3 per cent, while the value increased by NOK 1.2 billion, or 21 per cent, compared with January 2019.

The average price for fresh whole salmon in January was NOK 75.86 per kg, compared to NOK 62.44 per kg in January last year.

Poland, France and Denmark were the largest recipients of salmon from Norway.

“Demand for Norwegian salmon rose sharply in January. There is strong growth in value for all regions, with a 22 per cent increase in value to the EU, 20 per cent to Asia and 23 per cent to North America. In volume terms, there is a slight decline of 3 per cent to Asia. We see this decline primarily in relation to the shift in Chinese New Year compared to last year”, says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.

"Most of the fresh salmon to China is consumed through HoReCa. And since residents are encouraged to stay home, the demand from restaurants will change. A possible effect with limited outdoor activities could be a turning towards increased home consumption, says Victoria Braathen, with the Norwegian Seafood Council's operations in China. 

The average price for fresh whole salmon in January was NOK 75.86 per kg.

Trout exports see large volume growth

In January, 5,700 tonnes of trout were exported with a value of NOK 356 million. Export volume increased by 45 per cent, while value increased by NOK 94 million, or 36 per cent, compared with January last year.

Ukraine, the United States and Thailand were our largest trout market in January.

“The biggest growth market for trout exports in January was Ukraine, with a huge 259 per cent increase. Despite the Russian market being closed to Norwegian salmon via Belarus in January, the reduction to this market was only 13 per cent or 67 tonnes”, says Paul T. Aandahl.

A great start for export of skrei

6,100 tonnes of fresh cod were exported, including skrei with an export value of NOK 328 million. This is an increase in the volume of 32 per cent, while export value increased by NOK 103 million or 46 per cent compared to January 2019. Of this, 1,100 tonnes of landfill constitutes an increase of 21 per cent. The value of the scream was NOK 66 million, which is an increase of NOK 16 million, or 33 per cent.

Most of the fresh salmon to China is consumed through HoReCa.

Denmark, the Netherlands and Poland are the largest recipients of fresh cod in January.

“Traditionally, January starts with a rise in prices of fresh cod, both for fishermen and in the markets. There is a high demand for fresh cod which begins in January, before catches get started, so triggering price growth. As catches increase during the season, prices normally fall, which we are already seeing in signals from the markets. Over the past five years, the export price of fresh whole cod has fallen by 18 to 30 per cent from January to February”, says Ingrid Kristine Pettersen, Seafood Analyst at the Norwegian Seafood Council.

Decline in export of frozen cod

In January, 5,100 tonnes of frozen cod were exported to a value of NOK 231 million. This is a 48 per cent reduction in volume while the value fell by NOK 162 million, or 41 per cent.

The UK, China and Poland were the largest recipients of frozen cod in January.

"The reduction in export of frozen cod is mainly due to reduced landings of frozen raw material," says Ingrid Kristine Pettersen, Seafood Analyst at the Norwegian Seafood Council.

The UK, China and Poland were the largest recipients of frozen cod in January.

Stable export value for clipfish

8,600 tonnes of clipfish worth NOK 408 million were exported. Export volumes fell by 8 per cent, while export value remained unchanged from January last year.

Brazil, Portugal and the Dominican Republic were our most important markets in January.

“Price is still the main value driver for clipfish. Volumes fell for the two largest species, saithe and cod. Saithe in particular. In January, Brazil purchased 50 per cent of all clipfish from Norway and in doing so was the largest market. The Brazilian currency has weakened in recent years, to a greater extent than the Norwegian kroner´s falls in the past year, and this trend will continue into 2020. This means that inflation is higher in the Brazilian currency than it is in the Norwegian krone, which affects demand”, says Øystein Valanes, the Norwegian Seafood Council's Fishing Envoy to Brazil.

A large increase in both value and volume for salt fish exports

In January, 1,300 tonnes of salted fish were exported to a value of NOK 62 million. Volume increased by 57 per cent, while value increased by NOK 23 million, or 58 per cent, compared to January last year.

Portugal, Italy and Greece were our most important markets in January.

“Salted fish exports increased in January, after particularly low volumes throughout the year. In particular, the volumes of whole cod are increasing, at somewhat higher prices. The price increased by 7 per cent compared to the same period last year and now stands at more than NOK 56 per kg”, says Ingrid Kristine Pettersen, Seafood Analyst at the Norwegian Seafood Council.

Salted fish exports increased in January.

Strong growth in value for both herring and mackerel

34,300 tonnes of herring were exported to a value of NOK 332 million in January. The volume is at the same level as last year, while the value increased by NOK 47 million or 17 per cent.

Poland, Lithuania and Germany were the main markets for herring in January.

In January, 26,500 tonnes of mackerel were exported to a value of NOK 439 million. Volume increased by 17 per cent, while value increased by NOK 68 million, or 18 per cent.

South Korea, China and Japan were the largest recipients of mackerel in January.

South Korea, China and Japan were the largest recipients of mackerel in January.

Large volume reduction in prawn exports

921 tonnes of prawns were exported to a value of NOK 75 million. This is a 50 per cent reduction in volume, while the value fell by NOK 35 million, or 32 per cent, from January last year.

Sweden, the United Kingdom and Finland were the largest markets in January.

“The drop in volume is due to reduced raw prawns exports, while frozen peeled prawns exports are at the same level as in previous years. The export of raw prawns varies greatly and depends, among other things, on catch conditions. Reduced export of raw prawns also explains the increase in the average price”, says Frank Isaksen, Chief Analyst at the Norwegian Seafood Council.

Value increase for king crab exports

233 tonnes of king crab were exported to a value of NOK 76 million. This represents a 2 per cent reduction in volume, but an increase in export value of NOK 6 million, or 9 per cent.

South Korea, the United States and Japan were the largest recipients of king crab in January.

About The Norwegian Seafood Council

The Norwegian Seafood Council works with the Norwegian fisheries and aquaculture industries to develop markets for Norwegian seafood through local market intelligence, market development and reputational risk management. The Seafood Council is headquartered in Tromsø and maintains local representatives in twelve of Norway's most important international markets. The Norwegian seafood industry finances the activities of the Norwegian Seafood Council via a tariff on all Norwegian seafood exports.

The Norwegian Seafood Council is a public company owned by the Ministry of Trade, Industry and Fisheries.

 
Related News
Salmon exports experience strong growth in volume, modest in value
Clipfish sales abroad record strong growth
Seafood exports decline in volume but grow in value in Q1
Seafood exports reach new record of USD 1.01 billion in January
Norwegian seafood exports reached a new record in 2018
Norwegian cod exports grow thanks to better prices
Seafood exports decline in volume in November but their value grew by 11pct
 

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