February 14, 2018

Norwegian seafood exports start 2018 on a good note

The value of Norwegian seafood exports in January reached NOK 7.7 billion (US$976.93 million), up by 2% or NOK143 million ($18.141 million) over January 2017.

In terms of volume, Norway exported 198,000 tonnes of seafood, up 13% or 23,000 tonnes in the same month.

Asbjørn Warvik Rørtveit, director for market insight and access at the Norwegian Seafood Council (NSC), said, "The growth in value seen in Norwegian seafood exports in January is due to whitefish products. At the same time, it is gratifying to see that exports to the EU market have shown strong growth in volume and at historically high prices".

Exports of salmon (/search/?q=Norway%2C+salmon exports), the most important species for Norwegian seafood, totalled 85,400 tonnes, with a value of NOK5.1 billion ($646.914 million) in January. This represents an increase in volume of 16,000 tonnes or 23% with export values on par with same month in 2017. The average price for fresh whole salmon fell from NOK72.02 ($9.13) to NOK57.10 (7.24) per kilogramme.

Poland, France and Denmark were the largest export markets for salmon from Norway.

"The EU market has taken a larger share this year compared with the same month last year. It shows that the market has largely recovered from last year's price rise shock, where France, in particular, is showing a positive trend. China is the driver for the Asian region, with a record increase in volume compared with January last year", said Paul T. Aandahl, analyst with the NSC.

In January 3,200 tonnes of trout were exported with a value of NOK207 million. Volumes were up by 703 tonnes or 28%, while the export value increased by NOK13 million or 7% compared with January last year.

The US, China and Canada were Norway's largest trout markets in January.

Cod exports

In January 7,900 tonnes of frozen cod were exported with a value of NOK273 million. This is a decrease in volume of 786 tonnes or 9%, while export value increased by NOK7 million or 3%.

"The good weather in January has given increased volumes for cod and whitefish compared to the same month last year, although prices have been somewhat lower. Prices in January have been far higher than the average for the whole of 2017. Relatively high prices for especially cod and haddock, coupled with increased volumes, mean that cod fish products are experiencing their best January ever", said Ingrid Kristine Pettersen, analyst with the NSC.

Norway exported 671 tonnes of prawns in January with a value of NOK53 million. Volume increased by 92 tonnes or 16%, while export values increased by NOK10 million or 24% over January last year.

Sweden and the UK were the largest prawn markets in January.

Norway's king crab exports totalled 179 tonnes valued at NOK52 million. This is a decrease of 89 tonnes or 33% year-on-year, while export value fell by NOK21 million or 28%.

South Korea and the US were the largest king crab markets in January.  Rick Alberto (rickalberto@efeedlink.com)