The EU imported 1.2 million metric tons (MT) of groundfish worth EUR 4.3 billion (USD 5.1 billion) last year, with the volume and value increasing 5 percent and 3 percent respectively, according to the European Market Observatory for Fisheries and Aquaculture Products’ (EUMOFA) new annual report “The EU Fish Market – 2017 Edition.”
Groundfish accounted for 20 percent of EU imports from third-countries in terms of volume and 17 percent of the value. Cod led the category, accounting for 43 percent of the total volume with 518,250 MT. At EUR 2.3 billion (USD 2.7 billion), cod imports accounted for 54 percent of the total trade.
Cod was indeed responsible for the growth of the whole groundfish commodity group, with a “significant” 7 percent increase in imported volume and 6 percent rise in the value compared with 2015, said EUMOFA.
Norway was the EU’s main supplier of cod, providing a total of 178,791 MT valued at EUR 820 million (USD 978.6 million). Despite only a slight price increase – from EUR 4.54 (USD 5.42) to EUR 4.58 (USD 5.47) per kg – the value grew by almost EUR 20 million (USD 23.9 million).
Russia also registered a rise of EUR 20 million. Its total exports of cod to the EU reached 98,352 MT worth EUR 369 million (USD 440.5 million), which was in spite of the price decreasing from EUR 3.79 (USD 4.52) to EUR 3.75 (USD 4.48) per kg.
The report highlighted that most of the cod originating from outside the EU enters the market through the Netherlands, which in 2016 received 25 percent of the total. However, most of these products were then re-exported to other member states.
The Netherlands mainly imported frozen cod fillets from Iceland at EUR 4.27 (USD 5.10) per kg and whole frozen cod from Russia at EUR 3.76 (USD 4.49) per kg last year.
