NORWAY SEAFOOD EXPORTS UP

Norway seafood exports up with 2 million tonnes of seafood exported with a total value of NOK 71 billion so far this year. This represents a volume increase of 174,000 tonnes or 8 per cent, and an increase in export value of NOK 2.3 billion or 3 per cent measured against the same period last year. Can Norwegian seafood exports pass the NOK 100 billion mark by year-end?

In September Norway exported 160,000 tonnes of seafood with a value of NOK 7.7 billion. This is a 21 per cent decrease in volume, while the export value fell by 4 per cent or NOK 307 million compared with the same month last year.

“So far this year, we have exported NOK 71 billion in value across all seafood categories. This has been driven by strong prices for cod and an increase in volume for salmon. At the same time, currency effects have been in Norway´s favour overall throughout 2018. We are therefore on track for 2018 to be a record year for Norwegian seafood exports. If we are to pass the “magical” NOK 100 billion line, then salmon prices will need to be significantly stronger in Q4, compared with the same period in 2017. At the same time, exciting developments in the herring and mackerel market also have the potential to strengthen prices” says Asbjørn Warvik Rørtveit, Director for Market Insight and Access with the Norwegian Seafood Council.

Salmon exports 4% up on 2017

So far this year, Norway has exported 759,000 tonnes of salmon worth NOK 49.4 billion. This is an increase in volume of 50,000 tonnes or 7 per cent, while the export value has increased by 4 per cent or NOK 1.7 billion from the same period last year.

“A weakening Norwegian kroner has contributed to salmon exports holding steady in September. Demand in the EU, Norway´s most important salmon export market has flattened out. Growth is primarily in Asia and Eastern Europe, and with free access to markets like Russia and China, Chile has been the most able to exploit this situation in 2018” says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council,.

Norway has exported 88,200 tonnes of salmon worth NOK 5.7 billion in September. There was a volume decline of 8 per cent, while the export value remains at the same level as September last year. The average price achieved for whole fresh salmon was NOK 60.96 per kg in September, compared with NOK 55.46 per kg in the same month last year. So far this year, Poland and France have bought the most salmon from Norway