The volume of whole fresh salmon exported by Norway during the coronavirus pandemic is now at the same level as the corresponding period of last year, with a strong upturn in trade in recent weeks and prices at their highest level since the crisis began, according to the latest trade update from the Norwegian Seafood Council (NSC).
In week 24 of 2020, there was a 9 percent increase in the overseas sales of whole fresh salmon compared to a year previously, with 24,021 metric tons (MT) of salmon exported in the seven-day period. The average export price for fresh whole salmon that week was NOK 70.00 (USD 7.29, EUR 6.50) per kilogram.
“That is the same level as last year, and the highest export price recorded since the start of the corona[virus] period in week 9, when the salmon price was NOK 72.85 [USD 7.59, EUR 6.77] per kilogram," NSC analyst Paul Aandahl said.
Compared to a year ago, salmon exports to Asia have been weaker in recent weeks – falling by 14 percent in week 24, while exports to the E.U. have increased – up 16 percent in the same seven days, Aandahl said.
Following the new confirmed cases of COVID-19, traced to a food market in Beijing, the NSC also confirmed that Norwegian seafood exporters have reported logistical challenges exporting to Beijing, and also that a number of flights to and from the city have been cancelled. The virus outbreak has been falsely linked to Norwegian salmon, and as a result sales of imported seafood in China have plummeted.
In week 24, exports of fresh whole salmon to China fell by 34 percent to 240 MT.
Meanwhile, the council highlighted that salmon exports to Italy have increased dramatically, supported by the gradual reopening of restaurants and sushi outlets.
“We see that salmon exports are starting to recover from the low point in week 12. In the last three weeks, exports of fresh whole salmon to Italy have increased by 60 percent and for the first time since the corona outbreak began, weekly exports of fresh whole salmon surpassed last year’s,” Trym Eide Gundersen, the NSC’s country director in Italy, said.
In the whitefish trade, Norway’s exports of fresh whole cod are also on par with last year, although for the coronavirus outbreak weeks of 9 to 24, the volumes are down 6 percent year-on-year.
In week 24, exports of fresh whole cod fell by 28 percent to 270 MT, while the reduced catches led to increased export prices – averaging NOK 35.83 (USD 3.73, EUR 3.33) per kilogram – despite the recent strengthening of the Norwegian kroner.
“The price is still lower than the same period last year, and testifies to a continued challenging situation in the markets," NSC analyst Ingrid Kristine Pettersen said.
So far this year, there has been a 4 percent increase in frozen whole cod exports, and during the corona period these exports have increased by 23 percent. At the same time, exports of frozen fillets have increased by 3 percent to 6,600 MT, including an 11 percent spike for weeks 9 through 24.
“Increased demand for pre-packaged products in retail in several of the main cod markets has contributed to growth in exports of frozen fillet of cod over the past eight weeks,” Pettersen said. “In particular, we have seen increased demand for value-added products, such as breaded cod. The reasons for this include less access to fresh fish, and consumers' need for storage-friendly products.”
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