Marketplace

See all articles

Norwegian seafood exports break $10bn mark

Volume and value are both up for the year to date.

Norway's seafood exports fell in volume in November, but rose in value with the year to date reflecting an increase in both, according to new figures from the Norwegian Seafood Council (NSC).

The country exported 276,000 metric tons of seafood at a value of NOK 9.9 billion (€1 billion/$1.2 billion) in November. Volume fell by 8 percent, while export value increased by 11 percent or NOK 990 million (€102 million/$115.8 million) compared with November 2017.

So far this year, Norway has exported 2.5 million metric tons of seafood at a value of NOK 90.7 billion (€9.3 billion/$10.6 billion), reflecting a 5 percent increased in both volumes and value over the 11 months.

"The EU is winning the battle for Norwegian salmon, and we are still seeing rising demand in the EU market," said seafood analyst at the Norwegian Seafood Council, Paul T. Aandahl.

In November, nearly 78,000 metric tons of salmon were exported to the EU with a value of NOK 4.5 billion (€463.5 million/$526.5 million). This represented a volume growth of 4.5 percent, while growth in value was 12 percent.

In addition, the export value for mackerel increased sharply in November. While the volume of mackerel fell by almost 10 percent compared to the same month last year, the price rose by 37 percent. Total mackerel exports were almost NOK 1.1 billion (€113.3 million/$128.7 million) in November, a 23 percent gain on November 2017.

"Export prices for frozen whole mackerel in the autumn season 2018 is the highest on record. On average, the export price in October and November has been NOK 16.21 (€1.7/$1.9) per kg. The previous record was in 2005, when the price reached NOK 15.33 (€1.6/$1.8) per kg. Expectations of lower global supply of mackerel in 2019 are the reason why the price is spiking," said Aandahl.

10% growth in salmon export value

Norway exported 101,000 metric tons of salmon worth NOK 6.2 billion (€638.6 million/$725.4 million) in November. Export volume is at the same level as last year, while export value increase is 10 percent or NOK 541 million (€55.7 million/$63.3 million) higher than November 2017.

So far this year, Norway has exported 962,000 metric tons of salmon to a value of NOK 62 billion (€6.4 billion/$7.3 billion). This represents a volume increase of 6 percent, while export value increased by 5 percent or NOK 3 billion (€309 million/$351 million) compared to the same period last year. The average price for whole fresh salmon in November was NOK 56.24 (€5.8/$6.6) per kg against NOK 50.49 (€5.2/$5.9) per kg in November 2017. Poland and France were the largest salmon markets in November.

"Norway continues to take market share in the EU in November, while we see declines in other regions. An increasing proportion of EU consumption is seafood that undergoes processing in another market than that in which consumption takes place. This is the case in emerging markets, where the Netherlands and Poland are the ones that have seen the most significant increases in November," said Aandahl.

"Despite economic downturns and rising salmon prices, Italy is still experiencing a salmon boom. From 2010 to 2017, the value of direct exports of salmon increased by 257 percent, and growth continues to rise by 20 percent so far this year. The main reason is a strong trend towards consuming sushi, as well as on the commercial side, a successful collaboration between seafood producers and the Norwegian Seafood Council, both on sales and campaigns," said Trym Eidem Gundersen, Italian director for NSC.

Trout exports remain stable

Norway exported 5,300 metric tons of trout to a value of NOK 322 million (€33.2 million/$37.7 million) in November. This is a volume decline of 2 percent, while the value remains at the same level as November 2017. So far this year, Norway has exported 41,500 metric tons of trout with a value of NOK 2.7 billion (€278.1 million/$315.9 million). This is a volume increase of 18 percent and a value increase of 5 percent or NOK 130 million (€13.4 million/$15.2 million) from the same period last year. Belarus and the United States were the largest export markets for Norwegian trout in November

Increases for fresh and frozen codfish

Norway exported 2,600 metric tons of fresh cod, including fillet, for NOK 109 million (€11.2 million/$12.8 million) in November. This is a volume increase of 3 percent and a value increase of 1 percent or NOK 1 million (€103,000/$117,000) from November last year. Denmark and Sweden were the largest markets for fresh cod in November. So far this year, Norway has exported 61,500 metric tons of fresh cod, including fillet, for NOK 2.2 billion (€226.6 million/$257.4 million). This is a volume decline of 5 percent and a value increase of 2 percent or NOK 51 million (€5.3 million/$6 million) compared to the same period last year.

Norway exported 6,600 metric tons of frozen cod, including fillet, worth NOK 279 million (€28.7 million/$32.6 million) in November. The volume fell by 8 percent while the value increased by 16 percent or NOK 39 million (€4 million/$4.6 million) from November last year. China and the UK were the largest markets for frozen cod in November. So far this year, Norway has exported 64,000 metric tons of frozen cod, including fillet, for 2.4 billion. This represents a volume decline of 15 percent, while export value remains at the same level as last year.

"Both fresh and frozen whole cod have seen price growth so far this year. In addition, we see in recent months that prices for fresh and frozen cod are starting to improve, and they begin to approach the levels of last year. This is gratifying after a couple of years of falling prices" said seafood analyst Ingrid Kristine Pettersen.

This autumn, fresh sei cod has been launched in Spain, and a good response is reported from this export market, but lower catches have made it difficult to meet demand. Improvement in the traditional codfish markets, combined with the ability to build a new market for sei, such as freshly prepared sei in Spain, may well contribute to further price growth for sei" said Bjørn-Erik Stabell, fisheries delegate for the Spanish market.

Growth for clipfish, but salted fish exports decline in November

Norway exported 9,600 metric tons of whole clipfish worth NOK 482 million (€49.6 million/$56.4 million) in November. This is a volume increase of 6 percent, and a value increase of 12 percent or NOK 53 million (€5.5 million/$6.2 million) in November last year. So far this year, Norway has exported 85,000 metric tons of clipfish worth NOK 4 billion (€412 million/$468 million). This is a volume increase of 3 percent and a value increase of 5 percent or NOK 204 million (€21 million/$23.9 million) compared with the same period last year.

"Now we are entering the main season for clipfish in Portugal - Christmas. There has been a spectacular rise in prices for codfish exports this year. However, price growth has not been fully exposed to consumers. On average, export prices have increased by 9 percent in euro to € 7.58 per kg, while according to our panel data, prices to consumers in Portugal remain at the same level as last year and are selling on average at €8 per kg. The margin between export price and retail price has clearly decreased in recent years. The reason is that clipfish is such an important product to attract customers that supermarket chains keep prices down in order to secure their market share. This is a development that can be hard to sustain over time" said Ingrid Kristine Pettersen.

Norway exported 1,300 metric tons of salted fish to a value of NOK 61 million (€6.3 million/$7.1 million) in November. There is a volume decline of 17 percent and a value reduction of 15 percent or NOK 11 million (€1.1 million/$1.3 million) from November last year. Italy and Portugal were the largest salted fish markets in November. So far this year, Norway has exported 28,000 metric tons of salted fish for NOK 1.4 billion (€144.2 million/$163.8 million). This is a volume increase of 5 percent, a value increase of 15 percent or NOK 186 million (€19.2 million/$21.8 million) from the same period last year.

Herring exports decrease by 9%

Norway exported 45,000 metric tons of herring worth NOK 425 million (€43.8 million/$49.7 million) in November. This is a volume decline of 26 percent and a decrease of 9 percent or NOK 41 million (€4.2 million/$4.8 million) in export value compared with November 2017. Poland and Ukraine were the largest markets for herring in November.

So far this year, Norway has exported 262,000 metric tons of herring for NOK 2.4 billion (€247.2 million/$280.8 million). This is a volume increase of 3 percent, and a decline of 5 percent or NOK 129 million (€13.3 million/$15.1 million) from the same period last year.

Significant price increase for mackerel

Norway exported 66,000 metric tons of mackerel to a value of NOK 1.1 billion (€113.3 million/$128.7 million) in November. This is a volume decline of 10 percent and a value increase of 23 percent or NOK 201 million (€20.7 million/$23.5 million) from November 2017. In November, Japan and China have been the largest markets for mackerel. So far this year, Norway has exported 236,000 metric tons of mackerel for NOK 3.5 billion (€360.5 million/$409.5 million). This is a 24 percent volume decline, and a decline of 8 percent or NOK 300 million (€30.9 million/$35.1 million) in export value compared to the same period last year.

"In the autumn of 2018, we have had an export share in high-priced markets of 64 percent, compared to 60 percent last autumn. For example, Japan has increased its share of Norwegian mackerel exports from 26 percent last autumn to 34 percent this fall this year. Total price inflation more than compensates for the volume decline in November" says Paul T Aandahl.

Shellfish exports grow, by volume and by value

198 metric tons of king crab with a value of NOK 58 million (€6 million/$6.8 million) were exported in November. This is an increase of 43 percent, while the value increased by 45 percent or NOK 18 million (€1.9 million/$2.1 million). South Korea and France are the largest recipients in November. So far this year, 1,900 metric tons of king crab have been exported to a value of NOK 548 million (€56.4 million/$64.1 million). This is an increase of 12 percent by volume, while the export value increased by 19 percent or NOK 88 million (€9.1 million/$10.3 million).

"It is live king crab who has been the source of both volume and value increases in King Crab exports. So far this year, live king crab has accounted for 72 percent of the volume and 68 percent of the value.

There have been good snow crab catches after the conservation period and with significantly higher prices and good demand for Norwegian snow crabs due to reduced catches in Canada. 254 metric tons of snow crab were exported in November with a total value of NOK 29 million (€3 million/$3.4 million). The United States is the largest market in November with 76 percent of the snow crab exports" says Josefine Voraa, advisor with the Norwegian Seafood Council.

Norway exported 1,100 metric tons of prawns worth NOK 91 million (€9.4 million/$10.6 million) in November. This is an increase of 13 percent in volume, while the export value increased by 24 percent or NOK 18 million (€1.9 million/$2.1 million). Sweden and the UK were the main prawn markets in November. So far this year, 10,100 metric tons of prawns have been exported to a value of NOK 775 million (€79.8 million/$90.7 million). This is a volume increase of 20 percent and a value increase of 22 percent or NOK 140 million (€14.4 million/$16.4 million).

Latest news
Most read