March 8, 2019
Norway seafood export volume in February continues to slide, but value up
Norway's seafood exports in February decreased for the second month in a row this year. On the other hand, February's export value increased, also for the second consecutive month.
According to figures released by the Norwegian Seafood Council, Norway exported 198,700 tonnes of seafood, down 22% or 57,000 tonnes from the same month last year. Value of seafood exports in February was NOK7.8 billion (US$888.1 million), an increase of NOK670 million or 9% compared with February last year.
"February 2019 has been the best ever February for Norwegian seafood exports. This is due, among other factors, to the increased value of salmon exports once again", seafood analyst Ingrid Kristine Pettersen said, adding that volume declines for February is attributed to the lack of catch of capelin.
During the first two months, 406,000 tonnes of seafood were exported with a value of NOK16.4 billion ($1.87 billion) compared with the same period last year.
February exports of salmon, the most important species for Norwegian seafood exports, totalled 80,000 tonnes, up 7% compared with February 2018, while value rose 11% or NOK492 million to NOK5.1 billion ($581 million).
Salmon exports in Jan.-Feb.
In the first two months, 166,000 tonnes of salmon were exported, valued at NOK10.7 billion ($1.22 billion. This is an increase of 4% in volume and an increase of 11% or NOK1.1 billion in value.
The average price for fresh whole salmon in February was NOK58.94 ($6.71) per kilogramme compared with NOK58.34 ($6.64)/kg in February 2018.
Seafood analyst Paul T. Aandahl said the largest emerging markets for salmon in February were Poland, Denmark and Lithuania, where a high proportion of salmon is processed for export to other markets, mainly within the EU.
A total of 8,800 tonnes of fresh cod, including scrap, were exported with a value of NOK356 million ($40.53 million). This is a 33% decrease in volume and a fall of NOK98 million or 22% compared with February last year.
In the two months through February, 13,500 tonnes of fresh cod, including scrap, were exported, valued at NOK583 million ($66.37 million). This is a decrease of 28% in volume and a decrease of 15% or NOK 101 million in value.
Largest importers of fresh cod
Denmark, Poland and the Netherlands were the largest recipients of fresh cod in February.
King crab exports, meanwhile, reached 189 tonnes in February, down 6%, with a value of NOK58 million ($6.6 million), up 7% or NOK4 million.
South Korea, the US and Japan were the largest export markets of king crabs in January.
Norway exported 960 tonnes prawns valued at NOK111 million ($12.63 million) in February. This is an increase of 47% in volume and an increase of 53% or NOK29 million in value against February last year.
The UK, Sweden and Finland were the largest markets for prawns in February.