February 11, 2014

Norway's seafood exports up 25% in value for January

Norway's January seafood exports surged 25% in value to NOK5.9 billion (US$963.04 million), an increase of NOK1.2 billion (US$195.87 million) on-year.

Salmon exports totalled NOK3.7 billion (US$603.99 million), an increase of NOK997 million (US$162.75 million) on-year. As the largest producer of farmed salmon in Europe, consistently high price of the fish contributed largely to the surge in export value.

While the volume of salmon sales did not increase significantly, the price of farmed whole salmon rose by over 1/3 in the past 12 months. France, Poland and Russia are Norway's three most important customers for salmon.

Egil Ove Sundheim, the director of market information at the Norwegian Seafood Council, said that the country's export of frozen cod to China also increased in January, along with fresh cod exports into EU countries.

Exports of cod, saithe and haddock increased by 10% to NOK1.1 billion (US$179.62 million). The cod director at Norway Seafood Council, Ove Johanesen, said the rise was both in volume and value.

Revenue from fresh cod hit NOK282.5 million (US$46.13 million), a jump of 69% compared to the same period of 2013. With China being the major buyer, exports of frozen cod, saithe and haddock rose 30% to NOK445 million (US$ 72.66 million). However, farmed white fish - mainly cod - fell by 9% to NOK5.4 million (US$881,770.38).

Meanwhile, Norway's exports of farmed trout, mackerel and herring remained stable in January. Sales of farmed trout stayed at about NOK205 million (US$33.47 million), while mackerel and herring were at about NOK395 million (US$64.50 million).