Norway exported 176,935 metric tons (MT) of fishery and aquaculture products worth NOK 7 billion (USD 897.4 million, EUR 723 million) last month, representing a volume decline of 27 percent or 66,500 MT and an 8 percent or NOK 631 million (USD 80.9 million, EUR 65.2 million) fall in the export value compared with February 2017.
With large reductions in the Scandinavian country’s salmon, herring and mackerel exports last month and only marginal increases registered by its king crab, shrimp and trout trades, the main positive was seen in the cod category.
“Great weather at the start of this year has led to higher catches of cod compared with the same period last year. This means that we are seeing an increase in exports of fresh cod,” saod Asbjørn Warvik Rørtveit, director of market insight and market access with the Norwegian Seafood Council (NSC).
He added that a strengthening of the euro measured against February last year resulted in lower import prices for seafood from Norway.
“This has favored the EU as a market in the first months of 2018.”
Some 13,100 MT of fresh cod, including fillets and skrei, worth NOK 459 million (USD 58.8 million, EUR 47.4 million) were exported last month, representing year-on-year increases of 3 percent and 5 percent respectively. At the same time, the whitefish sector shipped 7,500 MT of frozen cod worth NOK 268 million (USD 34.3 million, EUR 27.7 million), up 18 percent and 21 percent.
The average price of fresh whole cod increased by 3 percent from February last year, which led to an increase in value of 7 percent or NOK 25 million (USD 3.2 million, EUR 2.6 million).
Skrei exports, meanwhile, amounted to 1,800 MT, which was a decrease of 3 percent compared with February last year. The average price level was at the same level as February 2017, which resulted in a fall in value of 3 percent or NOK 2 million (USD 256,310, EUR 206,543).
In the opening two months of this year, Norway exported 2,424 MT of trademarked skrei with an export value of NOK 98 million (USD 12.6 million, EUR 10.1 million).
According to NSC’s latest trade data, 24,200 MT of herring with an export value of NOK 218 million (USD 27.9 million, EUR 22.5 million) were sold in February. This was a decrease in volume of 21 percent or 6,400 MT, while the export value fell by 36 percent or NOK 120 million (USD 15.4 million, EUR 12.4 million) compared with February last year.
Norway also shipped 17,600 MT of mackerel with a value of NOK 223 million (USD 28.6 million, EUR 23 million), down 32 percent and 24 percent respectively.
A total 58,800 MT of herring with a value of NOK 545 million (USD 69.9 million, EUR 56.3 million) and 37,300 MT of mackerel worth NOK 467 million (USD 59.9 million, EUR 48.2 million) were exported in January and February this year.
Poland and Lithuania have provided the biggest markets for Norwegian herring, while Turkey and Japan were the most important markets for its mackerel.
NSC also confirmed that 202 MT of king crab with a value of NOK 55 million (USD 7.1 million, EUR 5.7 million) was exported in February, with the volume up 28 percent or 44 MT, and an increase in value of 37 percent or NOK 15 million (USD 1.9 million, EUR 1.5 million). Norway’s shrimp exports, meanwhile, totaled 656 MT – also worth NOK 55 million, up 28 percent and 39 percent respectively.
So far this year, 375 MT of king crab have been exported with a value of NOK 104 million (USD 13.3 million, EUR 10.7 million), along with 1,327 MT of shrimp worth NOK 108 million (USD 13.8 million, EUR 11.1 million).
In 2017, Norway exported a record 2.6 million MT of seafood worth NOK 94.5 billion (USD 12.1 billion, EUR 9.8 billion).
