Exceptionally strong first quarter for cod exports

Norway exported cod, saithe, haddock and other types of whitefish totalling NOK 3.5 billion in the first quarter of 2015. This represents an increase of 4 per cent, or NOK 140 million, compared to the first quarter of last year. This represents an all time high for the first quarter. March also broke records with exports worth NOK 1.35 billion, an increase of 22 per cent year-on-year.

"The cod appeared late in the season, but in good volume this year. The delayed arrival and challenging weather conditions limited supplies resulting in good prices. For the first time, the export value of fresh fish has passed NOK 1 billion", says Ove Johansen from the Norwegian Seafood Council. Attractive prices, assisted by the weaker Norwegian krone, also created an export record for clipfish in the first quarter.

Record clipfish exports in first quarter
The export value of clipfish was a total of NOK 989 million in the first quarter. This represents an increase of 15 per cent, or NOK 127.5 million, compared to the first quarter of 2014. So beating the previous record from 2011 by NOK 9 million. In the first quarter of 2015, Norway exported 22,103 tonnes of clipfish. This represents a decrease of 14 per cent, or 3,570 tonnes, compared to last year. The average price increase for clipfish was 33 per cent in the first quarter.

The export value of clipfish from Atlantic cod was NOK 487 million in the first quarter. This represents an increase of NOK 84.4 million year-on-year. The average export price for clipfish made from Atlantic cod increased by 40 per cent.

The export value of clipfish made from saithe totalled NOK 420 million in the first quarter. This corresponds to NOK 33.8 million more than the first quarter of 2014. The average price achieved for saithe was 28 per cent higher than last year.

The largest single market for clipfish in the first quarter was Brazil. Norway's export value of clipfish to Brazil came to NOK 380 million in the first quarter. This is NOK 55.9 million more than during the first quarter of 2014. Portugal was the second largest clipfish market in the first quarter. Exports of clipfish to Portugal reached NOK 250 million in the first quarter, an increase from NOK 203 million in the first quarter of 2014.

Decline in saltfish exports despite stronger price levels

The export value of saltfish, both whole fish and fillets, totalled NOK 342 million in the first quarter. This represents a decrease of 6 per cent or NOK 22.6 million compared to the first quarter in 2014. Measured by volume, 9,114 tonnes of saltfish were exported in the first quarter – a decrease of 31 per cent compared to the same period last year.

Portugal was the largest market for saltfish in the first quarter. The export value of saltfish reached a total of NOK 205 million in the first quarter. This represents a decrease of 18 per cent year-on-year. The average export price of saltfish to Portugal increased by 43 per cent from the first quarter last year to NOK 38.44 per kg.

Price increases for stockfish

The export value of stockfish totalled NOK 130 million in the first quarter. A decrease of 10 per cent compared to the first quarter of 2014. Measured by volume, 1,153 tonnes of stockfish were exported in the first quarter. This represents a decrease of 38 per cent compared to the same period last year. 923 tonnes of Lofoten round cod was exported in the first quarter, worth NOK 112 million. An increase of 9 per cent, or NOK 8.9 million, compared to 2014. The average price was NOK 120.99 per kg, 29 per cent higher than the first quarter of last year.

Price increases for frozen cod

Norway exported frozen cod fish products worth NOK 937 million in the first quarter. This represents an increase of NOK 117 million compared to the first quarter last year. Whole round frozen cod saw the biggest decrease, from 30,339 tonnes in the first quarter of 2014 to 11,556 tonnes in the first quarter of 2015. At the same time, the price for whole frozen cod increased by 58 percent, from NOK 15.45 to NOK 24.50 per kg.

Norway's exports of frozen fillets increased from NOK 219.4 million in the first quarter of 2014 to NOK 225.4 this year. The export volume was reduced by 18 per cent, while the average price of frozen fillets increased by 40 per cent.

Record exports of fresh fish

Norway exported fresh cod fish products for NOK 1.1 billion in the first quarter. This corresponds to 17 per cent or NOK 163 million more than the first quarter of 2014. The export value for fresh fish has never been higher for a first quarter. Measured by volume, the export of fresh fish decreased by 12 per cent year-on-year, while the average price increased by 34 per cent in the same period.

From this year, the quality brand "skrei" (migrating cod) has its own item number. Norway exported worth NOK 111.3 million in the first quarter of 2015. Measured by volume, 3,548 tonnes of skrei were exported. The average price achieved was NOK 31.37 per kg. Norway exported fresh cod worth NOK 543 million during the first quarter. In addition, exports of farmed and reared cod accounted for NOK 34.8 million compared with NOK 13.7 million in the first quarter of last year.

Norway exported fresh fillets worth NOK 189 million in the first quarter of 2015. This represents an increase of NOK 25.4 million. Prices have risen for most types of fresh fish: cod by 30 per cent, haddock by 14 per cent and saithe by 48 per cent compared to the first quarter in 2014.