Norway exported two million metric tons (MT) of fisheries and aquaculture products worth NOK 71 billion (USD 8.6 billion, EUR 7.5 billion) in the first nine months of this year, representing a year-on-year increase in volume of eight percent, or 174,000 MT, and a three percent, or NOK 2.3 billion (USD 278.5 million, EUR 241.8 million), rise in value.
Asbjørn Warvik Rørtveit, director of market insight and access at the Norwegian Seafood Council (NSC), attributed much of this year’s growth to good cod prices and larger salmon volumes, as well as a positive currency effect.
“This indicates that 2018 will be a record year,” Rørtveit said.
To date, Norway has exported 57,000 MT of fresh cod products worth NOK 2.1 billion (USD 254.2 million, EUR 220.8 million). While this volume represents a decrease of four percent year-on-year, the value is up by three percent or NOK 65 million (USD 7.9 million, EUR 6.8 million) from the same period of last year.
“The value of fresh cod is mainly driven by a nine percent rise in prices for whole fish so far this year. At the same time, we see that the sector has increased in favor of mainly frozen whole cod, despite the fact that the quota has decreased,” said Ingrid Kristine Pettersen, analyst at the NSC.
Norway has also exported 52,000 MT of frozen cod worth NOK 1.9 billion (USD 230.1 million, EUR 199.8 million), with the volume down by 13 percent and the value on par with last year.
The reduced tonnage has been the main contributor to a 14 percent increase in frozen prices, said Pettersen. At the same time, she highlighted that exports of frozen cod fillets had increased by 4 percent despite the lower quotas. The United Kingdom in particular has been importing more of these products this year.
Meanwhile, in the salmonid sector, Norway exported 759,000 MT of salmon worth NOK 49.4 billion (USD 6 billion, EUR 5.2 billion) in the January through September period, up seven percent and four percent, respectively.
However, the NSC noted that last month’s export volume was down eight percent to 88,200 MT, while the value was at the same level as September 2017. Last month’s average price for whole fresh Norwegian salmon was NOK 60.96 (USD 7.38, EUR 6.41) per kg, compared with NOK 55.46 (USD 6.71, EUR 5.83) a year previously.
Also over the nine months, Norway exported 31,500 MT of trout worth NOK 2.1 billion (USD 254.2 million, EUR 220.8 million), up 22 percent and four percent, respectively.
Growth has also been achieved by the country’s shellfish exporters over the first three quarters. To date, 1,500 MT of king crab valued at NOK 437 million (USD 52.9 million, EUR 46 million) has been exported, up seven percent and 15 percent, respectively. Some 6,900 MT of shrimp worth NOK 568 million (USD 68.8 million, EUR 59.7 million) has also been shipped, representing increases of four percent and 16 percent year-on-year.
However, the herring and mackerel trades have declined. So far this year, 199,000 MT of herring worth NOK 1.8 billion (USD 217.9 million, EUR 189.3 million) has been exported by Norway. While this volume was up 13 percent year-on-year, the value was down by 6 percent or NOK 103 million (USD 12.5 million, EUR 10.8 million). Mackerel exports, meanwhile, have totaled 93,300 MT (down 31 percent) valued at NOK 1.2 billion (down 27 percent).
Last year, Norway exported a record 2.6 million MT of seafood worth NOK 94.5 billion (USD 11.5 billion, EUR 9.9 billion).
