Lower salmon prices, harsh weather slow Norway seafood exports

Norway exported seafood worth NOK 5.1 billion (EUR 592 million; USD 658.3 million) in February, which was 6 percent or NOK 318 million (EUR 36.9 million; USD 41.1 million) down from the total reached in the corresponding month of 2014, according the Norwegian Seafood Council (NSC).

“Norway exported significantly more seafood in February 2015 than is normal for this month, although somewhat less than the records set last February. This is due primarily to salmon prices being lower than the very high prices of February 2014. Norway exported whitefish worth more than NOK 1 billion (EUR 116.1 million; USD 129.1 million), and codfish in particular has achieved good prices. Despite this, February has been marked by extreme coastal weather, which has resulted in lower fishing volumes, combined with the fact that the large export volumes of clipfish for the Brazilian Easter celebrations occurred in January, not February,” said Geir Bakkevoll, communications director at the NSC.

Norwegian salmon worth NOK 3.3 billion (EUR 383.1 million; USD 426.1 million) was exported in February, which was an increase of 2 percent or NOK 80 million (EUR 9.3 million; USD 10.3 million) year-on-year. Although the NSC confirmed that the average export price for fresh whole salmon dropped from NOK 47.59 (EUR 5.52; USD 6.14) per kilogram (kg) to NOK 42.21 (EUR 4.90; USD 5.45) per kg last month.

In total, the country exported 73,250 metric tons (MT) of farmed Atlantic salmon last month, which was 11 percent more than in February 2014.
Meanwhile, its exports of fresh cod, including cod fillets, increased by 6 percent or NOK 18 million (EUR 2.1 million; USD 2.3 million) year-on-year to NOK 299 million (EUR 34.7 million; USD 38.6 million). It also exported fresh and frozen codfish worth NOK 44 million (EUR 5.1 million; USD 5.7 million) and NOK 149 million (EUR 17.3 million; USD 19.2 million), respectively.

However, there were double-digit decreases in the Scandinavian country’s trout, herring and mackerel trades last month, with export totals of NOK 145 million (EUR 16.8 million; USD 18.7 million), NOK 158 million (EUR 18.3 million; USD 20.4 million) and NOK 210 million (EUR 24.4 million; USD 27.1 million), respectively.

Its clipfish and salted fish exports also achieved lower totals of NOK 264 million (EUR 30.6 million; USD 34.1 million) and NOK 96 million (EUR 11.1 million; USD 12.4 million), respectively.

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