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During the January-November period, Norwegian seafood products generated USD 160,000 million in profits.

Seafood exports decline in volume in November but their value grew by 11pct

Click on the flag for more information about Norway NORWAY
Wednesday, December 05, 2018, 23:20 (GMT + 9)

Norwegian seafood exports fell by 8 per cent in volume in November, to 276,000 tonnes, but increased by 11 per cent in value, reaching NOK 9.9 billion (USD 1.16 billion), compared with the same month in 2017.

During the period from January to November, these sales abroad grew by 5 per cent in volume and and in value, to 2.5 million tonnes and NOK 90.7 billion (USD 10.6 billion), respectively.

The export value for mackerel increased sharply in the eleventh month of the year, by 37 per cent, but the sales of the resource fell in volume by almost 10 per cent compared to the same month last year.

Export prices for frozen whole mackerel in the autumn season 2018 is the highest on record. On average, the export price in October and November was NOK 16.21 per kg.

“Expectations of lower global supply of mackerel in 2019 are the reason why the price is spiking," pointed out seafood analyst at the Norwegian Seafood Council, Paul T. Aandahl.

In the case of salmon exports, he stressed that thanks to the rising demand for the resource in the EU market in November there was a volume growth of 4.5 per cent, to 78,000 tonnes, and a value increase of 12 per cent, to NOK 4.5 billion. 

Norway exported a total of 101,000 tonnes of salmon worth NOK 6.2 billion in November. The exported volume is similar to that last year while export value grew by 10 per cent. Poland and France were the largest Norwegian salmon markets in November.

During the first eleven months of the year, Norwegian salmon exports reached 962,000 tonnes worth NOK 62  billion, figures representing an increase by 6 per cent in volume and by 5 per cent compared to the same period last year.

The average whole fresh salmon price in November was NOK 56,24 per kg versus NOK 50.49 per kg in November in 2017. 

"Norway continues to take market share in the EU in November, while we see declines in other regions. An increasing proportion of EU consumption is seafood that undergoes processing in another market than that in which consumption takes place. This is the case in emerging markets, where the Netherlands and Poland are the ones that have seen the most significant increases in November," explained Aandahl.

For his part, expert in economics and marketing Trym Eidem Gundersen pointed out that despite the economic downturns and rising salmon prices, Italy is still experiencing a salmon boom due to the strong trend towards consuming sushi as well as, on the commercial side, a successful collaboration between seafood producers and the Norwegian Seafood Council, both on sales and campaigns.

Trout exports were stable in November with a 2 per cent decline in volume, to 5,300 tonnes, and with a value at the same level, reaching NOK 322 million. Belarus and the United States were the largest export markets

During the January-November period, the sales abroad of the resource increased by 18 per cent in volume, reaching 41,500 tonnes, and a 5 per cent growth in value, to NOK 2.7 billion.

(1 NOK = USD 0.11768)
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