All time record quarter for Norwegian codfish exports

Norway exported cod, saithe, haddock and other demersal to a combined value of NOK 4 billion in Q1. This is 15 per cent or NOK 529 million more than during the first quarter of 2015. Volumes increased by 17 per cent and in particular those of fresh and frozen products.

”Despite larger catches in March, we do not see the average price dropping for fresh products, and so for the third consecutive month, cod has set new records”, says Ove Johansen analyst at the Norwegian Seafood Council.

The export value of all fresh groundfish products totalled NOK 1.39 billion, a record for the first quarter. This is an increase of 27 per cent or NOK 296 million compared to the first quarter of 2015. Export volumes increased by 19 per cent compared with Q1 2015.

Norway exported codfish worth NOK 162 million in Q1 2016. This is an increase of 48 per cent or NOK 53 million compared with the same quarter in 2015. Volumes increased by 26 per cent from 3,542 tonnes to 4,469 tonnes during the same period. The average price increased by 17 per cent to reach NOK 36.43 per kg.

Fresh whole cod exports increased by 27 per cent or NOK 152.5 million to reach a new total of NOK 718 million in Q1 2016. By volume, the total exports of codfish increased by 3,215 tonnes to 25,624 tonnes. Fresh whole saithe increased by 3,863 tonnes to 5,514 tonnes, up 234 per cent. Fresh whole haddock increased by 336 tonnes to 5,743 tonnes.

Exports of fresh fillets totalled NOK 215 million, some NOK 29 million or 16 per cent more than during Q1 2015. Exports of fresh cod fillets declined by NOK 2.5 million to NOK 157 million. Exports of fresh haddock fillets increased by NOK 27 million to NOK 50.7 million.

A new record for frozen groundfish products

Sales of frozen groundfish products increased by 29 per cent or NOK 264 million to reach a total of NOK 1.17 billion. Never before has the value of exports of frozen products been higher in the first quarter.

Frozen whole Norwegian cod saw the biggest increase in export value, from NOK 271 million to NOK 493 million. The amount increased by 64 per cent from 11,065 tonnes to 18,179 tonnes. The average price rose by 11 per cent to NOK 27.16 per kg.

The top export market for frozen whole groundfish in Q1 2016 was China, which increased from NOK 263 million to NOK 312 million in value.

Frozen fillets increased from NOK 219 million to NOK 260 million in the first quarter of this year. The average price for frozen fillets were 16 per cent more than in Q1 2015.

The biggest market for frozen fillets in the first quarter was the UK with an export value of NOK 116 million. This is an increase of 32 per cent from the same period in 2015.

Reduction of clipfish exports

Exports of clipfish totalled NOK 815 million in Q1 2016. This represents a decline of 17 per cent or NOK 165 million compared with Q1 2015. Total exports by volume were 18,511 tonnes, which is a reduction of 16 per cent or 3,411 tonnes.

Of this, exports of clipfish of Atlantic cod were worth NOK 408 million in Q1. This is a reduction of 15 per cent, or NOK 72 million. The average price achieved was 7 per cent higher than during the first quarter last year. The value of clipfish sei totalled NOK 37 million in the first quarter. This was NOK 81 million less than during the first quarter last year. The average price for saithe was 10 per cent lower than the prices achieved during Q1 2015.

In the first quarter, exports of clipfish to Brazil were worth NOK 251 million. This is a decrease of 34 per cent. The next biggest market, Portugal also saw falls in value – by NOK 19 million to a total of NOK 229 million in the first quarter.

Increased salt fish exports

Exports of salted fish, both whole and fillet, increased by NOK 103 million to total NOK 443 million in Q1 2016. This is a 30 per cent increase year-on-year. By volume, whole salted cod exports increased by 19 per cent to a total of 9,182 tonnes, while the average price in Norwegian kroner increased by 12 per cent.

Portugal is the biggest market for salted fish with a share in the first quarter of 70 percent. Portugal imported Norwegian salted fish worth NOK 310 million during Q1, an increase of NOK 106 million compared to the same period last year.

Stockfish selling at higher prices

Exports of whole dried fish totalled NOK 161 million in Q1. An increase of NOK 28 million from Q1 2015. Volumes were down by 7 per cent, from 1,172 tonnes to 1,095 tonnes in Q1 of this year. The average price for whole stockfish in the first quarter was NOK 147.13 per kg. This is a 30 per cent increase from the same period last year.

The sale of dried heads and other dried products decreased from NOK 50.6 million to NOK 16.7 million during the period. The price decreased by 44 per cent.

The biggest market for stockfish in the first quarter was Italy, which bought stockfish worth NOK 117 million. Nigeria's second largest market reduced purchases by NOK 60 per cent to a total of NOK 28 million in the first quarter.