Incredible first quarter for Norway seafood exports

By

SeafoodSource staff

Published on
April 9, 2014

The value of Norway seafood exports totaled NOK 16.8 billion (USD 2.8 billion, EUR 2.04 billion) in the first quarter of the year. In total, this represents a 25 percent increase compared to the same period in 2013. Skrei fisheries contributed to a 65 percent increase in the exports of fresh cod, according to figures from the Norwegian Seafood Council.

In the month of March, total seafood export valued NOK 5.6 billion (USD 941 million, EUR 681 million), representing a 22 percent increase compared to last year.

“Very strong demand for salmon and incredible skrei fisheries this winter are the main reasons why we are seeing new export records in Q1,” said Egil Ove Sundheim, market information director at the Norwegian Seafood Council.

Exports of fresh cod, including fillets, amounted to NOK 770 million (USD 129 million, EUR 93.7 million) in the first quarter of 2014, up 66 percent compared to the first quarter of 2013. Export volume increased by 15,000 metric tons (MT) to 37,000 MT. In March, fresh cod exports, including fillets, totaled NOK 261 million (USD 43.8 million, EUR 31.8 million), up 35 percent compared to the same month in 2013.

Export of frozen cod, including fillets, amounted to NOK 657 million (USD 110 million, EUR 79.9 million) in the first quarter, a 58 percent increase over 2013. Volume increased by 14,000 MT to a total of 36,000 MT. In March exports of frozen cod, including fillets, totaled NOK 191 million (USD 32 million, EUR 23.3 million), representing an increase of 53 percent compared to March last year.

NOK 10.7 billion (USD 1.8 million, EUR 1.3 billion) worth of salmon was exported in the quarter, up 33 percent compared to first quarter 2013. In the month of March, salmon exports were valued at NOK 3.7 billion (USD 623 million, EUR 450 million), up 27 percent compared to March 2013. The average price for whole, fresh Norwegian salmon in March was NOK 43.88 (USD 7.39, EUR 5.34) per kilo compared to NOK 37.59 (USD 6.33, EUR 4.57) in March last year. Poland and France were the biggest buyers of salmon from Norway.

Trout exports increased by 30 percent in the quarter to NOK 632 million (USD 106.4 million, EUR 76.9 million). In March export value was NOK 227 million (USD 38 million, EUR 27.6 million), up 60 percent compared to 2013. The largest buyers of Norwegian trout are Russia and Japan.

Herring exports amounted to NOK 720 million (USD 121.2 million, EUR 87.6 million) in the quarter, a decline of 13 percent compared to the first quarter of 2013. In March, herring exports were valued at NOK 143 million (USD 24 million, EUR 17.4 million), down 19 percent compared to March of last year. Russia and Germany are the largest markets for herring.

Mackerel exports reached NOK 661 million (USD 111.3 million, EUR 80.4 million) in the quarter, up 40 percent compared to last year. In March, mackerel exports reached NOK 189 million (USD 31.8 million, EUR 23 million), an increase of 5 percent compared to March of last year. China and the Netherlands are the most important markets for Norwegian mackerel exports.

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