November 9, 2011

 

Norwegian seafood exports slide in October

 

 

Seafood amounting to nearly NOK5.5billion (US$982billion) was exported from Norway in October, indicating a downturn of NOK345million (US$62million) or 6% compared with the same month last year.

 

In 2011, seafood exports are worth NOK43.3 billion (US$7.7billion), an increase of NOK 362million (US$65million) on the record year of 2010, according to figures from the Norwegian Seafood Export Council (NSEC).

 

"The downturn in seafood exports for the month of October is due to the low world market price for salmon. Overall, the positive trend in exports of herring, mackerel and cod is not strong enough to compensate for the decline in the value of salmon exports," says Egil Ove Sundheim, Director of Market Information at NSEC.   

 

Salmon exports fell by NOK756million (US$135million) or 25% to a total of NOK2.25billion (US$402billion) in October. In 2011, salmon exports are worth NOK24billion (US$4.3billion), a decrease of NOK831million (US$148million) due to lower prices.

 

From January to October inclusive, the average price for fresh salmon with the head is NOK33.60 (US$6) per kilogramme, a reduction of NOK3.43 (US$0.61) per kilogramme compared with the same period last year. If we look at the month of October, the price of salmon is NOK23.43 (US$4.18) per kilogramme, a decrease of NOK13.49 (US$2.41) per kilogramme compared with October last year.

 

France, Russia and Poland have been the largest importers of salmon from Norway.

 

Mackerel exports increased by NOK303million (US$54.1million) or 36% to a total of NOK1.1billion (US$196.3billion) in October. Mackerel exports are worth NOK2.9billion (US$517.6billion), an increase of NOK242 million (US$43.2million).

 

In October, herring exports increased by NOK108million (US$19.3million) to a total value of NOK488million (US$87.1million). Exports are worth NOK3billion (US536billion), an increase of NOK477million (US$85million).

 

Japan is the largest importer of mackerel with a value of NOK969million (US$173million), corresponding to a growth of NOK19million (US$3.4million). Russia remains the largest recipient of herring although imports fell by 3.4% to a value of NOK708million (US$126million).

 

Germany is the second largest buyer of herring from Norway and increased its imports by 54% to a total value of NOK480million (US$).

 

Exports of frozen, whole white fish totalled NOK308million (US$85.6million) in October and this is NOK134million (US$23.9million) or 77% higher than the same month last year. Measured in terms of volume, this was an increase of 6,203 tonnes to a total of 17,937 tonnes. Never before has so much frozen whole cod been exported in the month of October, whether measured in terms of value or volume.

 

Clipfish worth NOK482million (US$85.9million) was exported in October. This represents a reduction of 6% or NOK34million (US$6.1million) compared with the same month last year. Clipfish exports are worth NOK3billion (US$534.8billion), an increase of NOK194million (US$34.6million) or 7%.

 

In October, salt fish exports fell by NOK7million (US$1.2million) or 11%. Exports have increased by NOK106million (US$18.9million) or 13% to a total of NOK945million (US$168million).