Norwegian seafood exports decline generally in February, but shored up by growth in codfish exports

Norway exported 176,935 tonnes of seafood with a value of NOK 7 billion in February. This represents a volume decline of 66,500 tonnes or 27 per cent and a reduction in export value of NOK 631 million or 8 per cent compared with February last year.

"Great weather at the start of this year has led to higher catches of cod compared with the same period last year. This means that we are seeing an increase in exports of fresh cod. Meanwhile, a strengthening of the euro measured against the same month last year has resulted in lower import prices for seafood from Norway. This has favored the EU as a market in the first months of 2018”, says Asbjørn Warvik Rørtveit, Director of Market Insight and Market Access with the Norwegian Seafood Council.

So far this year, Norway has exported 386,000 tonnes of seafood worth NOK 14.7 billion. This is a volume decline of 32,000 tonnes and reduction in value of NOK 484 million compared with the same period last year.

Salmon exports are down

Norway exported 75,700 tonnes of salmon with an export value of NOK 4.7 billion in February. This is a decline of NOK 233 million or 5 per cent, compared with February last year. At the same time, export volume has increased by 3,700 tonnes, or 5 per cent.

Salmon prices rose by NOK 1.52 per kg from January to February, giving a price of NOK 58.52 per kg. Average prices achieved were 9 per cent lower compared with February last year. "The EU market is taking an increasing share of the Norwegian export despite high consumer prices for salmon. The main reasons for this are a strengthening of the euro and a lower export price compared with the same periode last year, says Seafood Analyst Paul T. Aandahl with the Norwegian Seafood Council. 

So far this year, Norway has exported 160,000 tonnes of salmon worth NOK 9.7 billion. Poland, France and Denmark were the largest recipients of salmon from Norway in February.

Trout exports remain stable

In February Norway exported 3,000 tonnes of trout worth NOK 184 million. Export volumes have increased by 600 tonnes, or 25 per cent, while the export value was stable compared with February last year. So far this year, Norway has exported 6,000 tonnes of trout worth NOK 390 million. Belarus, Poland and the United States was the largest markets for trout in February.

Increased exports for both fresh and frozen trout

13,100 tonnes of fresh cod were exported, including fillet and skrei, worth a total of NOK 459 million in February. This is a volume increase of 378 tonnes or 3 per cent, and a value increase of NOK 21 million or 5 per cent.

The average price of fresh whole cod increased by 3 per cent from February last year, and the value increased by NOK 25 million or 7 per cent. Exports of skrei amounted to 1,800 tonnes, which is a decrease of 61 tonnes or 3 per cent compared with February last year. The average price level was at the same level as February 2017, which resulted in a fall in value of NOK 2 million or 3 per cent. So far this year, Norway has exported 2,424 tonnes of trademarked skrei with an export value of NOK 98 million.

In February, Norway exported 7,500 tonnes of frozen cod, including fillet, worth NOK 268 million. This is a volume increase of 1,200 tonnes or 18 per cent, and a value increase of NOK 46 million or 21 per cent. China and the UK were the largest markets for frozen cod in February.

Early Easter leads to reduced clipfish exports in February

5,500 tonnes of clipfish were exported in February, with an export value of NOK 230 million. This is a reduction in volume of 1,200 tonnes, or 18 per cent, and a drop in value of NOK 43 million or 16 per cent compared with February last year. So far this year, 15,000 tonnes of clipfish have been exported with a value of NOK 648 million. This represents a slight value increase of NOK 8 million or 1 per cent.

"The Brazilian market explains the reduction in clipfish exports in February. With an early Easter this year, the Easter sale of clipfish to Brazil was more or less complete by the end of January. Therefore we do not interpret this reduced volume as in any way dramatic, but simply the result of forward planning and periodization which has affected February this year”, says Seafood Analyst Ingrid Kristine Pettersen with the Norwegian Seafood Council,.

Salted fish exports grow

In February, 2,200 tonnes of salted fish, including fillets, were exported with a value of NOK 106 million. This is a volume increase of 200 tonnes, or 10 per cent, and an increase in value of NOK 21 million, or 25 per cent. So far this year, 3,200 tonnes of salted fish have been exported with a total value of NOK 152 million, which corresponds to a 15 per cent increase in value. Greece and Portugal were our main salted fish markets in February.

Herring and mackerel exports are down

24,200 tonnes of herring with an export value of NOK 218 million were sold in February. This is a decrease in volume of 6,400 tonnes or 21 per cent, while the export value fell by NOK 120 million or 36 per cent compared with February last year. So far this year, 58,800 tonnes of herring have been exported with a value of NOK 545 million. Poland and Lithuania were the most important markets for herring in February.

In February, 17,600 tonnes of mackerel were exported with a value of NOK 223 million. Export volumes fell by 8,000 tonnes or 32 per cent, and value saw a fall of NOK 69 million or 24 per cent. So far this year, 37,300 tonnes of mackerel have been exported with a combined value of NOK 467 million. Turkey and Japan were the most important markets for mackerel in February.

Growth in February for King Crab and prawns

202 tonnes of king crab were exported with a total value of NOK 55 million in February. This is an increase in volume of 44 tonnes, or 28 per cent, and an increase in value of NOK 15 million or 37 per cent. So far this year, 375 tonnes of king crab have been exported with a total value of NOK 104 million.

Norway exported 656 tonnes of prawns with a total value of NOK 55 million in February. This is a volume increase of 142 tonnes or 28 percent, and a value increase of NOK 15 million or 39 per cent. So far this year, 1 327 tonnes of prawns have been exported with a value of NOK 108 million.