Norwegian cod continues to set new export records

Published on
April 6, 2016

Norway exported cod, saithe, haddock and other demersal species with a combined value of NOK 4 billion (USD 479.2 million, EUR 422.5 million) in the first-quarter of this year, which was 15 percent or NOK 529 million (USD 63.4 million, EUR 55.9 million) more than in the same period of last year, according to the latest figures supplied by the Norwegian Seafood Council (NSC).

Within the demersal trade, the export value of all fresh groundfish products amounted to almost NOK 1.4 billion (USD 167.7 million, EUR 147.9 million) – a record for the first-quarter. This total represented an increase of 27 percent or NOK 296 million (USD 35.5 million, EUR 31.3 million) compared to Q1 2015. Export volumes increased by 19 percent year-on-year.

At the same time, sales of frozen groundfish products increased by 29 percent or NOK 264 million (USD 31.6 million, EUR 27.9 million) to reach almost NOK 1.2 billion (USD 143.7 million, EUR 126.7 million) – again, the highest total ever recorded in the opening quarter of a year.

Fresh whole cod exports increased by 27 percent or NOK 152.5 million (USD 18.3 million, EUR 16.1 million) to reach NOK 718 million (USD 86 million, EUR 75.8 million) in the last quarter. In volume terms, these exports increased by 3,215 metric tons (MT) to 25,624 MT. The average export price for fresh cod increased by 17 percent to NOK 36.43 (USD 4.36, EUR 3.84) per kg.

There was, however, a NOK 2.5 million (USD 300,000, EUR 263,932 million) decline in the value of the country’s fresh cod fillets, which totaled NOK 157 million (USD 18.8 million, EUR 16.6 million) in the period.

Frozen whole cod saw the biggest increase in export value – from NOK 271 million (USD 32.5 million, EUR 28.6 million) to NOK 493 million (USD 59.1 million, EUR 52.1 million). In volume terms, this trade increased by 64 percent from 11,065 MT to 18,179 MT, while the average export price for frozen cod climbed 11 percent to NOK 27.16 (USD 3.25, EUR 2.87) per kg.

Contributing Editor reporting from London, UK

Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500