January 12, 2015

 

Norway seafood exports set new record at US$9 billion in 2014 

           

 

Norway set a new record in its seafood exports for a second year in a row after they reached Norwegian Krone 68.8 billion (US$8.9 billion) in 2014, a 12% (NOK7.3 billion or $941.3 million) rise from 2013.

 

"Norwegian seafood has never enjoyed a stronger position in the world market. Despite the collapse of the Russian export market due to sanctions this year, the Norwegian seafood industry has shown it can adapt to meet the needs of new markets. The result has been record export figures for salmon, cod and mackerel," said Terje E. Martinussen, CEO of the Norwegian Seafood Council.

 

Because of the Russian import ban, which went into effect on August 7, exports to Russia in 2014 decreased 48% to NOK3.4 billion ($440.244 million) from the previous year.

                                                                                                                                          

Seafood exports to the EU, Norway's main seafood market, increased by 16% in 2014 to reach NOK43 billion ($5.57 billion).

 

"No seafood nations have, during recent years, positioned themselves as well as Norwegian seafood exporters, who have jointly developed several major markets worldwide. This is the main reason why the demand for Norwegian salmon in 2014 remains robust and is able to defend its price level," Martinussen said.

 

Norway exported salmon and trout worth NOK46.2 billion ($6.03 billion) in 2014. A whole fresh salmon reached the price of an average NOK41.06 per kg ($5.4), or 3.4% higher than the 2013 price.

 

Cod fish exports totalled NOK12 billion ($1.56 billion), or 20% or NOK2 billion ($260.013 million) higher than 2013, setting a new record. Exports of groundfish rose 3% year on year in terms of volume.

 

Clipfish exports set a new record at NOK 3.7 billion ($480.610 million), or 19% more than in 2013. Volume also increased, by 3%.

 

"2014 set a new record for clipfish production, at approximately 100,000 tonnes. Clipfish, which is entirely processed in Norway, guarantees both year-round employment and supports local businesses. For this reason, we can say that cod really is an important builder and sustainer of communities in 2014," Martinussen said.

 

Mackerel exports also increased year on year by NOK1.2 billion ($155.807 million), or 43%, to NOK4.1 billion ($532.422 million) and of shrimp, crustaceans and molluscs by 23% to NOK1 billion ($129.875 million). South Korea alone imported 562 tonnes of live king crabs from Norway in 2014, an increase of 170% from 208 tonnes the previous year.

 

Herring exports, however, decreased by 14%, or NOK444 million ($57.650 million) to NOK2.7 billion ($350.6 million) in 2014.

 

Poland was Norway's No. 1 market for seafood in 2014. Its imports totalled NOK6.4 billion ($828.622 million). Poland was followed by France, which imported NOK5.7 billion ($740 million) worth of seafood from Norway, a decline of 3% from 2013.

 

The UK market, however, registered the biggest growth at 42%, or NOK1.2 billion ($155.807 million), to reach a total of NOK4 billion ($518.8 million) worth of seafood export.