The good times keep rolling for Norwegian seafood exporters, who rang up NOK 5.3 billion in sales during August. This represents an increase of NOK 593 million, or 12 per cent compared to August last year. Year to date seafood exports have reached NOK 45.1 billion, an increase of NOK 2.9 billion on the same period in 2014.
“Yet another strong month for Norwegian seafood exports is partly explained by the EU, a key region for seafood exports, buying more salmon at higher prices in Norwegian kroner than they did during the same period last year. Also worthy of mention is that the United States bought 30 per cent more salmon so far this year compared with the same period in 2014,” said Geir Bakkevoll, communications director at the Norwegian Seafood Council.
He also reported that growth in cod sales is due to the Portuguese market buying more of it at higher prices compared to the same period in 2014. The overall positive picture is slightly offset by a small decline in the cod quotas for 2015. A further background factor is the currently weak Norwegian kroner, which of course assists exports.
Growth for Salmon and Trout
Salmon exports totaled NOK 3.7 billion in August. This is an increase of NOK 411 million or 12 per cent compared with August 2014. The price of whole salmon increased from NOK 35.86 to NOK 43.33 per kilo. Total volumes for all types of salmon were the same as 2014 at 80,111 tons. France, Poland and the UK are the biggest importers of salmon from Norway.
For the third consecutive month, trout exports increased, with growth in August of 26 per cent to a new total of NOK 183 million. Belarus was the biggest export market for trout from Norway in August.
“The development in salmon exports, following the Russian import ban, shows how adaptable the Norwegian salmon industry is. During the 12 months since the ban came into effect, the salmon industry increased exports to established markets like the UK, Spain and Italy. Norwegian salmon exporters have, in addition, benefited from a weaker Norwegian krone,” said Paul T. Aandahl, the Norwegian Seafood Council’s analyst for salmon and trout markets.
Higher Salmon Prices
The average export prices achieved for fresh whole salmon in August reached NOK 43.33 per kilo. This is NOK 7.47 higher than in August 2014. Prices in August were 1 per cent lower than the average prices in July.
Nominal Growth Across EU Region
Norway salmon exports to the EU were worth just under NOK 2.8 billion in August, an increase of 17 per cent year-on-year. By volume, the EU region was down by 2 per cent, to total 62,400 tons. In August, the EU accounted for 78 per cent of all Norwegian salmon exported. Poland and France were the largest markets for Norwegian salmon in August.
Increased Exports to Asia and USA
Salmon exports to Asia totaled NOK 569 million in August. This is an increase of 4 per cent year-on-year. Growth has been driven by a higher export price. Meanwhile, volumes were 12 per cent, or 1,400 tons down compared with August 2014.
Salmon exports to the United States were worth NOK 199 million in August. An increase of 46 per cent compared with August 2014. Export volumes increased by nearly 800 tons to total 2,800 tons.
Herring and Mackerel
In August, herring exports year-on-year were higher by NOK 44 million, or 36 per cent, totaling NOK 167 million. Lithuania is the largest export market for herring in August.
Mackerel exports increased very significantly by NOK 36 million, or 72 per cent, to a new total of NOK 86 million in August. Nigeria was the largest export market in August.
Modest Growth for Clipfish
Clipfish exports increased by NOK 13 million, or 5 per cent, to a total of NOK 309 million in August. Cod exports increased by 27 per cent, while saithe exports declined by 18 per cent. In August, Portugal remains the most important market for cod, whilst the Congo-Brazzaville is the biggest market for saithe clipfish.
Growth for Salted Fish
Exports of salted fish, including fillets, increased by NOK 2 million, or 10 per cent to total NOK 24 million in August. Spain remains our largest market for salted fish with a total value of NOK 10 million in August.
Fresh Cod Up, Frozen Cod Down
Fresh cod exports, including fillets, increased by NOK 17 million, or 37 per cent to a total of NOK 62 million in August. Most fresh cod was destined for the EU. Frozen cod exports fell by NOK 25 million or 17 per cent to NOK 122 million. The EU is also the biggest importer of frozen cod with a value of NOK 85 million in August.
