April 9, 2018

 

January - March best quarter ever for Norway cod exporters

 

 

Norway's seafood exports in the first quarter may have declined both in volume and value, but the first three months of the year was the best quarter ever for cod, whose export value totalled over NOK3 billion (US$384.91 million), according to the Norwegian Seafood Council (NSC).

 

"This is the best quarter for cod ever, with a total export value of over NOK 3 billion. In particular, clipfish (salted and dried cod), salted fish and fresh whole cod have experienced price increases, with 19, 12 and 7 percent respectively. This is due to strong demand in our most important consumer markets, such as Portugal and Spain", said Ingrid Kristine Pettersen, seafood analyst with the NSC.

 

Norway exported 676,000 tonnes of seafood with a value of NOK23.7 billion in the first quarter, down 8% in terms of volume and down 2% or NOK488 million in value compared with the first quarter last year.

 

While Norway's exports of clipfish decreased 3% to 21,500 tonnes in the first quarter, their value increased 3% or NOK 24 million to NOK943 million ($121.01 million). Portugal, Brazil and the Dominican Republic were the main markets for clipfish in the first quarter.

 

Johnny Thomassen, director with the NSC operations in Portugal, said demand has remained strong for clipfish in Portugal.

 

Norway exported 32,000 tonnes of fresh cod including skrei (winter cod), worth NOK1.1 billion ($141.24 million) in the first quarter. This is a slight decrease in volume from last year, while export value increased 4% or NOK42 million.

 

Norway exported 22,000 tonnes of frozen cod valued at NOK772 million ($99.12 million) in the first quarter, or an increase in volume of 5%, while export values increased 13% orNOK86 million compared with the same period last year.

 

"Usually we see that the price of fresh whole cod and skrei declines in March, but this year the price has actually increased. Skrei volumes have also increased during the same period", said Pettersen.

 

Salmon, trout, king crab and prawn exports

 

Norway's salmon exports in the first quarter increased 6% to 246,000 tonnes, while export value fell 1.5% or NOK240 million compared with the first quarter last year. The average price for fresh whole salmon fell from NOK65.43 ($8.40) to NOK61.11 ($7.85) per kilogramme. Poland, France and the US were the largest markets for Norwegian salmon in the first quarter.

 

"A strong growth in salmon prices in recent months means that we are optimistic about the further development of seafood exports for 2018. For example, the average price in November for fresh whole salmon was NOK50.50 per kg. In March, this had risen to NOK 67.59 per kg. High campaign activity in large markets such as France, Britain and Italy in combination with a strong euro has contributed to a price boost for salmon", said Paul T. Aandahl, seafood analyst with the NSC.

 

Norway exported 9,800 tonnes of trout worth NOK633 million ($81.28 million) in the first quarter. Export volumes increased 14%, while export values fell 6% or NOK 43 million compared with the first quarter in 2017. Belarus, the US and Poland were Norway's largest markets for Norwegian trout in the first quarter.

 

Norway exported 450 tonnes of king crab worth NOK126 million ($16.185 million) in the first quarter. This is a decrease of 14%, while the value fell 10% or NOK14 million.

 

For prawns, the export volume increase was 12% to a total of 2,000 tonnes, while the value increased 19% or NOK27 million to NOK165 million ($21.2 million) in the first quarter.