Norway posts record groundfish exports

Published on
May 8, 2015

Norway exported cod, haddock, saithe and other groundfish worth almost NOK 1.2 billion (EUR 142.5 million; USD 161 million) last month, an increase of 33 percent or NOK 288 million (EUR 34.2 million; USD 38.6 million) year-on-year.

This was the first time the country’s groundfish exports had achieved a monthly total above the NOK 1 billion (EUR 118.7 million; USD 134 million) mark.

“A winter fishing season marked by both late skrei cod migration and increased exports of fresh fish to other markets, has meant that our main cod market Portugal, has not purchased as much cod as last year. This has led to higher prices and therefore record exports of salted fish in April,” said Ove Johansen, market analyst with the Norwegian Seafood Council (NSC).

Total exports of frozen groundfish products increased by NOK 39.6 million (EUR 4.7 million; USD 5.3 million) to NOK 241 million (EUR 28.6 million; USD 32.3 million) in April, while the combined export value for all fresh groundfish products reached NOK 344 million (EUR 40.9 million; USD 46.1 million), an increase of NOK 89.7 million (EUR 10.7 million; USD 12 million) year-on-year.

Exports of fresh cod, including fillets increased by 33 percent or NOK 69 million (EUR 8.2 million; USD 9.2 million) to NOK 277 million (EUR 32.9 million; USD 37.1 million).

With an overall value of NOK 272 million (EUR 32.3 million; USD 36.5 million) last month, the EU remained the biggest export region for Norwegian fresh cod. The bloc was also the largest market for frozen cod, importing products worth NOK 118 million (EUR 14 million; USD 15.8 million).

Meanwhile, Norwegian exports of salted fish (both whole and in fillet form) increased by 69 percent or NOK 107 million (EUR 12.7 million; USD 14.3 million) year-on-year to NOK 263 million (EUR 31.2 million; USD 35.3 million) last month. In volume terms, salted fish exports were up by 17 percent to 6,675 MT.

Portugal was by far the largest market for this product, purchasing 90 percent of the total volume for NOK 227 million (EUR 27 million; USD 30.4 million), an increase in value of 69 percent year-on-year. The price achieved in the Portuguese market in April was NOK 39.60 (EUR 4.70; USD 5.31) per kg, which was 47 percent higher than a year previously.

Contributing Editor reporting from London, UK

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