The export value of Norwegian seafood has never been higher in the first half of the year than in 2021. From January through June, Norway exported fishery products worth NOK 53.7 billion. This represents a growth in value of just over 1 per cent, or NOK 646 million, when measured against the first six months of 2020.
“Despite a strengthened Norwegian krone and the fact that the markets are still affected by the coronavirus pandemic (SARS-CoV-2), the first half of the year has been the best ever for seafood exports when measured by value. Strong demand for healthy, safe and sustainable seafood is the most important reason why we are experiencing another export record,” said Norwegian Seafood Council CEO Renate Larsen.
Odd Emil Ingebrigtsen, Norway’s Minister of Fisheries and Seafood, added: “This is fantastic news for seafood exporters. Not even the worldwide pandemic has prevented an increase in demand for, and exports of Norwegian seafood…When the restaurants reopen, this could give a further boost to seafood.”
“In the markets that are reopening, we see strong growth in restaurant visits at a significantly higher level than before the pandemic, making us optimistic about the future,” stated Larsen. “South Korea sees the most substantial increase in export value.”
Exports to Korea have had the most significant value growth in the first half of the year. The total increase was NOK 358 million to NOK 1.9 billion. Salmon, mackerel and king crab are the species that have increased the most in this market.
A Boom for Shellfish
The most significant value growth has been for the crustacean product category. Sales in the first half of the year increased by NOK 698 million, against a total export value of NOK 1.7 billion.
“June was the best single month ever for Norwegian shellfish, marking a solid end to the best half-year run ever,” said Larsen. “Snow crab and king crab have seen outstanding value growth, but also smaller categories such as crayfish and brown crab have broken all previous records for the first half of the year.”
Although Norwegian seafood exports are generally doing very well, some species and categories are facing demanding market conditions. Cod experienced the most significant decline in export value in the first six months of the year, with a fall of 8 per cent, or NOK 441 million, compared to 2020.
Salmon Growth
Norwegian producers exported 562,000 tons of salmon worth NOK 35.3 billion in the first half of the year, up 12% in volume. Value increased by NOK 416 million, or just over 1%, compared with the first half of last year.
The average price for fresh whole salmon fell from NOK 64.96 to NOK 58.30 per kg. Poland, France and the USA were the largest export markets for salmon from Norway.
“Italy has shown considerable growth for salmon in the first half of the year, which is connected with the gradual easing of measures against the coronavirus pandemic compared to the first half of 2020. Increased home consumption, growth in the takeaway segment and a gradual reopening of the restaurant sector are the reasons for the positive figures,” said Paul T. Aandahl, an analyst with the Norwegian Seafood Council.
Salmon sales abroad during June showed positive development compared with the same month last year, as exports weighed in at 98,500 tons worth NOK 6.3 billion. This was an increase in the volume of 19 per cent, and a rise in value of 10% to NOK 596 million.
Trout Exports Decline
Norway exported 25,000 tons of trout that fetched NOK 1.6 billion during the first half of the year. The volume decline amounted to 20%, while value fell 14% to NOK 253 million.
The average price for fresh whole trout advanced rom NOK 54.30 to NOK 59.51 during the six-month period, with the USA, Belarus and Ukraine ranking as the largest markets.
On average, the price for fresh trout was NOK 1.21 higher than the price for fresh salmon in the first half of the year.
“Reduced production is the key reason for the decline in the value of trout,” said Aandaahl. “The decrease in volume is also why trout prices have risen compared to salmon. Fresh trout increased the export price by 10% in the first half of the year, while fresh salmon reduced the price by 10%.”
Trout exports in June amounted to 4,900 tons valued at NOK 320 million. Volume was down 21%, while value fell by NOK 11 million, or 3% compared with June lof 2020.
Demanding Market Conditions for Cod
The export value of cod in the first half of the year totaled NOK 5.27 billion. This decrease of 8%, or NOK 441 million compared to 2020, represents the most significant fall in value in the first half of the year. Turnover was almost equally split between fresh, frozen and conventional (salted fish, clipfish and stockfish) varieties, at NOK 1.764 billion, NOK 1.758 billion, and NOK 1.731 billion.
“A strong growth in volume for fresh cod led to the export value for the first time being higher than both frozen and conventional cod during the first half-year,” said Eivind Hestvik Brækkan, an analyst with the Norwegian Seafood Council.
Challenges for Frozen Cod
Norway exported 44,300 tons of frozen cod worth NOK 1.7 billion during the first six months of 2021. While this represents an increase in the volume of 10%, value fell by NOK 146 million, or 8%, compared with the first half of last year. The United Kingdom, China and the Netherlands were the largest buyers of frozen cod in the first half-year.
“In 2021, the shift will continue towards more frozen cod exported to Europe, with lower volumes to Asia. Volume growth to Europe was as high as 24% in the first half, while export volume to Asia fell by 13%. As much as 68% of Norway’s export volume of frozen cod went to Europe,” said Brækkan.
Regarding the development in June, export figures show a decrease in both volume and value as 5,100 tons of frozen cod fetched NOK 204 million. This marks a decrease in volume of 22% and a fall in value of 27% to NOK 74 million.
Large Swings for Clipfish
Norway exported 39,700 tons of clipfish worth NOK 1.8 billion in the first half of the year. This is a volume increase of 3% and a value slide of 12% to NOK 235 million, compared with the first half of last year. Portugal, Brazil and the Dominican Republic were the most important markets for the product.
For clipfish, there has been significant variation in export performance between different species. The sales volume of cod clipfish, which has the highest price, has decreased by 4%. On the other hand, saithe and ling have a volume growth of 4% and 93%, respectively.
Effects of the Coronavirus Pandemic
“The impact on tourism and closed restaurants has undoubtedly affected the development of clipfish markets. Export volume to Norway’s largest market, Portugal, fell by 7% in the first half of the year and is 13 per cent lower than in 2019. However, there has been a shift towards more fresh, frozen and salted cod to Portugal in the first half, mainly used for clipfish production in Portugal,” reported Brækkan.
Brazil is the only one of the three largest destination markets to register volume growth. This is attributed to higher demand for saithe, tusk and ling, while cod clipfish decreased in volume.
Export figures for June show a decrease in volume and value. Approximately 6,300 tons of clipfish worth NOK 302 million were exported, representing slippage of 2 per cent in volume. Value fell by NOK 42 million, or 12 per cent, compared with the same month in 2020.
Decrease in Stockfish Value
About 1,800 tons of stockfish worth NOK 297 million were exported during in the first half of 2021. While this is an increase in volume of 9%, value fell by NOK 8 million, or 3%t, compared with the first half of last year.
Italy, the USA and Nigeria were the most important markets for stockfish of cod.
“Closures in connection with the coronavirus pandemic and an estimated inventory reduction resulted in a significant volume decline to our largest stockfish market in Italy in 2020. This year, export volumes to Italy have increased in line with a gradual reopening of society. Volume growth of 26 per cent from last year means that so far this year we are on a par with 2019,” said Brækkan.
June export figures show a decrease in volume and value. Approximately 154 tons of stockfish of cod exports fetched NOK 23 million, down 32% in volume. Export value fell by NOK 17 million, or 43 per cent, compared with the same period last year.
Good Prices for Herring
Norwegian producers exported 165,000 tons of herring worth NOK 1.8 billion in the first half of the year, representing a 2% rise in volume. Value increased by NOK 27 million, or just over 1 per cent, compared with the first half of 2020. Poland, Lithuania and Nigeria were the most important markets.
“At the start of the year, there was great uncertainty related to how the lapse of the Marine Stewardship Council certificate and a quota increase of 24% would affect the prices of Norwegian spring-spawning herring. The results show that prices have held up well,” said Jan Eirik Johnsen, who is responsible for pelagic species at the Norwegian Seafood Council.
Smaller Catches
Exports of herring roe, a success story last year, have fallen back in the first half of this year. Johnsen attributed this to lower catches on the Møre coast that limited stock available for production. As there will be no fishing for roe-mature North Sea herring in British waters, the total production of herring roe will decrease significantly compared with last year.
June export figures show a 6% decrease in volume and 5% slump in value, as 24,300 tons of herring were exported worth NOK 284 million.
Strong Mackerel Exports
Mackerel exports amounted to 116,500 tons worth NOK 1.8 billion in the first half of the year, which was at about the same level as last year. Value slumped by 11%, or NOK 224 million. South Korea, Vietnam and Japan were the largest markets.
There has been a strong mackerel export with the second-highest value and volume in the first half-year. Only the record year 2020 has been better.
Significant Growth in South Korea
“The coronavirus pandemic contributed to increased demand for mackerel in important Asian markets last year, and we see that the trend continues this year as well,” said Johnsen. “South Korea, in particular, is showing strong growth. Still, our most important mackerel market Japan has continued positive development.”
In total, exports to Japan, South Korea, Taiwan, China, Thailand and Vietnam increased by 10% in value and 27% in volume in the first half of the year, compared with the same period in 2020.
In June, there was a decline in both volume and value for mackerel. Approximately 9,000 tons worth NOK 148 million were exported, representing a volume downturn of 3 per cent and a 19% value decrease to NOK 35 million.
Best Half-Year in History for King Crab
Norway exported 1,100 tons of king crab worth NOK 426 million in the first six months of 2021, which was up 85% in volume and a 104% surge in value to NOK 217 million. Buyers in South Korea, the United States and the Hong Kong were the biggest customers.
“Throughout the first half of the year, we have had tremendous demand for Norwegian king crab from both the grocery trade in the USA and from the restaurant market in Asia. Combined with a gradual opening of restaurants in Europe, this has led to high prices. Combined with several boats that have delivered higher volumes than before, we got the best first half-year ever for king crab,” reported Ørjan Kjærvik Olsen, who is responsible for shellfish at the Norwegian Seafood Council.
June figures show an 88% increase in volume and a 115% surge in value, with 225 tons exported fetching NOK 87 million by value.
Solid Growth for Snow Crab
Norway exported 3,500 tonnes of snow crab worth NOK 593 million in the first half of the year, up 246% in volume and 318% in value to NOK 451 million.The USA, Denmark and Japan were the largest markets.
“Snow crab has been an exciting story this year. As a result of closed restaurants in the United States, grocery chains started buying snow crab. This has proven very popular with American consumers and has sent both demand and prices up. When the half-year is considered, with June being the best single month we have had, 2021 has been the year where snow crab made its mark as an export species. The only bad news is that Norwegian vessels have now fished almost the entire quota so that growth will slacken off for the rest of the year,” according to Olsen.
June export figures show a 131% increase in volume to 872 tons and a 227% value rise to NOK 169 million.
Positive Development for Prawn Sector
Exports of approximately 7,200 tons of prawn generated NOK 461 million in revenue during were exported in the half of the year, up 29% and 3%, respectively, compared with the first half of last year. The largest recipients were Sweden, the United Kingdom and Finland.
“Prawn sales have also had a decent development in June, with value growth in our three largest markets contributing to the first half-year being better than the same period in 2020,” reported Olsen. “With the opening of the restaurant, hotel and catering sector in Europe, we also see signs of increased demand here, which gives reason for cautious optimism for the next six months.”
June export figures show a 60% increase in volume to 1,800 tons and rise of 19% in value to NOK 96 million.
