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Cod Exports Reach A Historic High

Press release   •   Dec 03, 2014 04:01 UTC

Norway exported codfish worth NOK 1.16 billion in November. This is an increase of NOK 293 million, or 34 per cent compared with November 2013. Year to date exports of cod, saithe and haddock total NOK 10.95 billion. This is an increase of NOK 960 million on the whole of 2013. This is an all time high for codfish exports, both for the month of November as well as for the year to date.

”By the start of December exports of cod, saithe and haddock had surpassed the totals for the whole of 2013, and also achieved much better prices than in 2013. This can partly be explained by currency exchange rate fluctuations. However the undiminished Portuguese appetite for Christmas clipfish is also an important contributor to the November totals”, says Ove Johansen, Branch Manager and Codfish Analyst with the Norwegian Seafood Council.

Largest year to date clipfish export sales

Norwegian clipfish exports were worth NOK 413 million in November. This is NOK 163.5 million, or 66 per cent, more than November 2013. Total export volumes of dried codfish were 9,213 tonnes. This is an increase of 1,615 tonnes on November 2013. Year to date clipfish exports totalled 91,352 tonnes, an 11-month record.

Exports of Atlantic cod clipfish accounted for NOK 275 million of the total. An increase of NOK 155.5 million from November 2013. The value of sei clipfish was NOK 110 million, an increase of NOK 8.1 million on November 2013 totals.

Portugal remains the largest single market for clipfish, both in November and for the year to date. In November, exports of clipfish to Portugal were worth NOK 190.4 million, 119 per cent up on the same month in 2013. Year to date clipfish exports to Portugal were NOK 1.08 billion, 31 per cent up on the previous year.

Brazil is the second largest market in total and the biggest market for saithe clipfish, and grew by NOK 28 million to a total of NOK 93.6 million in November. Year to date exports of clipfish to Brazil were NOK 909.6 million, a gain of 23 per cent on the same period in 2013.

Saltfish continues to rise

In November, salted fish exports rose by NOK 4.4 million to total NOK 45.2 million. The November price for whole salt cod was NOK 37.53 per kg, 33 per cent higher than the same month in 2013.

Year to date salted fish exports, both whole and filleted, increased by 18 per cent to NOK 885 million. By weight, export volumes grew by 2 per cent to total 31,113 tonnes. Portugal accounted for 70 per cent of salted fish exports, with a market value of NOK 605 million.

Nigeria the largest market for stockfish

Whole stockfish exports in November totalled NOK 88.7 million. This is a 30 per cent increase on the same month in 2013. Exports by volume were 852 tonnes in November, of which 665 tonnes were Lofoten stockfish.

Italy and San Marino accounted for Lofoten cod stockfish worth NOK 40 million. This is 1 per cent more than November 2013. Average prices increased by 6 per cent per kg.

The Nigerian market for whole stockfish was worth NOK 29 million in November, an increase of 107 per cent from last November. In addition Nigeria purchased dried heads and codfish backs to a value of NOK 15 million in November to reach a combined market total of NOK 44 million.

Price increases create a new record for frozen fish

Exports of frozen fish increased by NOK 66.1 million to total NOK 435 million in November. The price increase for frozen whole cod averaged 39 per cent compared with the same month last year reaching NOK 22.33 per kg.

The value of frozen fillets increased by 38 per cent to reach NOK 64 million. The UK was the largest market, increasing by 41 per cent in November to reach NOK 35.2 million.

Year to date total exports of frozen fish, whole and fillets reached NOK 3.9 billion, 18 per cent higher than the same period in 2013. Exports levels have reached an all time high. China has purchased frozen cod, saithe and haddock to a value of NOK 1.5 billion so far this year.

100,000 tonnes of fresh fish

The export value of all fresh cod products was NOK 168 million. This is 34 per cent higher than November 2013.

By volume, sales of fresh whole cod were 39 per cent higher in November, totalling 2,356 tonnes. Average prices rose by 10 per cent, or NOK 2.37 per kg, to reach NOK 26.38 per kg in November.

Exports of fresh filleted products totalled NOK 29.3 million in November, an increase of NOK 9.5 million. Prices rose on average by 12 per cent.

Year to date exports of whole and filleted fresh fish totalled NOK 2.2 billion, NOK 457 million more than the same period in 2013. Volume for the first time passed 100,000 tonnes – a record both in terms of volume and economic value

The Norwegian Seafood Council is a joint marketing organisation for the Norwegian seafood industry and invests NOK 495 million annually in the development of markets for Norwegian seafood products. The council has its head office in Tromsø and offices in thirteen of Norway’s most important seafood markets. The Norwegian seafood industry finances the activities of the council through fees levied on all exports of Norwegian seafood.

The Norwegian Seafood Council is a public company owned by the Ministry of Trade, Industry and Fisheries.