NORWEGIAN SEAFOOD EXPORTS GROW IN VALUE

Norwegian seafood exports grow in value. Norway exported 182,000 tonnes of seafood with a total value of NOK 8.6 billion in August. Volume decreased by 4 percent, while export value increased by NOK 678 million or 9 percent, compared with August last year.

So far this year, Norway has exported 1.6 million tonnes of seafood worth NOK 68 billion. Export volume fell by 10 per cent, while growth in value was NOK 4.5 billion or 7.2 per cent.

Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council, said: “The growth in value in August is largely driven by increased prices where a weak Norwegian krone has made an important contribution. At the same time, good demand in several markets is also an important factor. For example, we are experiencing increased demand from the Chinese market, both for Norwegian salmon and for mackerel. For whitefish, especially cod, we see that growth in value continues, and in August frozen cod and clipfish were particularly strong performers.”

Norwegian salmon had its strongest month so far this year, both in terms of value and volume. Only October 2018 saw higher single month export values, than August this year.

Norway exported 104,000 tonnes of salmon with a value of NOK 6.2 billion in August. Growth in export volume was 5 percent. Export value increased by NOK 341 million or 6 percent compared to August last year. So far this year, 698,000 tonnes of salmon have been exported, worth NOK 46.5 billion.

“We have never seen such large regional price differences as in August this year. While the average price for the EU was NOK 52.43 per kg, Asian markets were NOK 14.19 per kg higher and prices in North America were NOK 16.47 per kg higher. The continuing depreciation of the kroner against the dollar than against the euro is an explanation. In addition, increased demand from Asia for large salmon, which is greater than we can supply, may explain some of this difference,” says Tom-Jørgen Gangsø.

Victoria Braathen, Fisheries Envoy for the Norwegian Seafood Council in China, said: “Driven by increased demand, we see continuing very positive growth for Norwegian salmon to China. More efficient trade means that more Norwegian salmon is now exported to China. Fresh whole salmon dominates the salmon trade and Chinese buyers have a marked preference for large salmon. This affects both available fish to the market and the price level of salmon to the Chinese market compared to other markets that accept salmon of different sizes.”

While the average price for fresh whole salmon was NOK 55.54 per kg in August 2018, it was NOK 54.48 per kg in August 2019. Poland, Denmark, and France were the largest recipients of salmon from Norway in August.