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GOOD VALUE GROWTH FOR NORWEGIAN HERRING AND MACKEREL

GOOD VALUE GROWTH

Good value growth for Norwegian herring and mackerel. So far this year, Norway has exported 200,000 tonnes of herring for NOK 1.9 billion. The volume is at the same level as last year, while the value increased by 7 per cent or NOK 120 million.

In September, Norway exported 16,900 tonnes of herring worth NOK 223 million. This is a 6 per cent decrease in volume, but the value of herring exports has increased by 26 per cent or NOK 46 million. Lithuania, Poland and the Netherlands have been the biggest export markets for herring so far this year.

“There has been a rise in prices for most herring products, which is an important reason for the value growth for herring. The price increase has been particularly significant for the North Sea herring. In addition, there has been considerable growth in the export of herring roe, which is due to a lack of capelin roe”, says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.

So far this year, Norway has exported 107,000 tonnes of mackerel for NOK 1.8 billion. This is a volume growth of 14 per cent, while the value increased by 49 per cent or NOK 604 million. In September, Norway exported 10,100 tonnes of mackerel worth NOK 182 million. This represents a 45 per cent growth by volume, while the total export value increased by 75 per cent or NOK 78 million. So far this year, China, South Korea and Japan have imported the most mackerel.

“Expectations of reduced catch in 2019 led to increased prices as long ago as last autumn. Increased prices along with increased export volume is the reason behind the current growth in export value. The increased export volume is due to both increased imports and increased catches in Norway”, says Aandahl.

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