«All the key seafood species have seen growth in export value in 2019. The largest growth has been salmon with an increase of NOK 3 billion, or 6 per cent. Globally, there is still strong growth in demand for Norwegian salmon. The second largest growth has been mackerel, with an increase of NOK 604 million or 49 per cent from the same period last year. A weak Norwegian kroner remains an important contributor to the total increase in exports”, says Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council.
In September, Norway exported 203,000 tonnes of seafood worth NOK 8.7 billion. This is an increase in volume of 18 per cent, while the value increased by 14 per cent or NOK 1.1 billion from the same month last year.
Large volume increase in Norwegian salmon exports
So far this year, Norway has exported 806,000 tonnes of salmon worth NOK 52.3 billion. This is an increase in volume of 6 per cent, while the value has increased by 6 per cent or NOK 3.1 billion from the same period last year.
Norway exported 109,000 tonnes of salmon for NOK 6.1 billion in September. This is a volume increase of 24 per cent, while the value increased by 7 per cent or NOK 412 million. The average price for whole fresh salmon in September was NOK 50.08 per kg, compared with NOK 60.96 per kg in September 2018. So far this year, Poland, France and Denmark have imported the most salmon from Norway.
“There has been strong volume growth from both Norway and other salmon producing nations into the market. That increase in supply is the main reason why salmon prices in 2019 are somewhat below last year's level”, says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.
China shows a real appetite for Norwegian seafood
Led by fresh salmon, which is growing at 92 percent, we have seen positive development across all seafood export categories to the Chinese market. Exports of both mackerel and king crab have more than doubled their value compared to the same period last year. At the end of Q3, the increase in exports to China total NOK 1 billion, making China the largest growth market for Norwegian seafood so far this year.
“This demonstrates the strength and scope of the seafood cooperation between Norway and China. More and more Norwegian seafood is being exported to China and Chinese people are showing a great appetite for a range of Norwegian seafood products”, says Victoria Braathen, the Norwegian Seafood Council's fisheries envoy to China.
The fascinating seafood market in South Korea craves Norwegian seafood
South Korea is a world leader in seafood consumption, and consumers know what they want. The latest study, launched during the Norwegian ministerial visit on October 16, shows that the origin of seafood is one of the most important pieces of information consumers are looking for at the point of purchase. This is precisely one of the reasons why Korean consumers have so enthusiastically adopted Norwegian seafood.
“The Norwegian industry has worked with origin labeling for many years, and the market shows a fantastic increase in origin-labeled products with the Seafood from Norway logo. So far this year, Norway has exported 37,500 tonnes of seafood to South Korea worth more than NOK 2 billion. This is a value increase of 11% compared to the same period last year, and higher than in the same period any other year before. The volume is so far this year 24% higher than last year”, says Gunvar L. Wie, the Seafood Council's fisheries envoy in Japan and South Korea.
Growth by volume for trout
Year to date, Norway has exported 40,800 tonnes of trout worth NOK 2.6 billion. This is a 30 per cent increase in volume, and a 25 per cent, or NOK 516 million, increase in value from the same period last year. In September, Norway exported 5,420 tonnes of trout for NOK 325 million. This represents a volume increase of 46 per cent, while the value of trout exports has increased by 26 per cent or NOK 63 million. So far this year, the United States, Belarus and Thailand have been the largest importers of trout from Norway.
“As we have seen with salmon, strong volume growth has pushed the price of trout below last year's level. So far this year, the export price for fresh trout is NOK 56.52 per kg, which is NOK 3.87 lower than for fresh salmon”, says Aandahl.
Fresh cod exports fall, whilst frozen cod exports see gains
So far this year, Norway has exported 44,200 tonnes of fresh cod, including fillets, for NOK 1.9 billion. This is a 23 per cent decrease in volume, while the value of fresh cod exports fell by 7 per cent or NOK 150 million from the same period last year. So far this year, Denmark, Poland and the Netherlands have been the largest markets for fresh cod.
Norway exported 1,600 tonnes of fresh cod, including fillets, to a value of NOK 82 million in September. This is a volume growth of 11 per cent, while the value increased by 39 per cent or NOK 23 million
“Lower quotas on cod have led to lower exports of most cod products. The fall in volume, along with a weak Norwegian krone, is probably the main explanation for the price having gone up”, says Seafood Analyst Ingrid Kristine Pettersen with the Norwegian Seafood Council.
So far this year, Norway has exported 53,700 tonnes of frozen cod, including fillets worth NOK 2.3 billion. Volume increased by 4 per cent, while value increased by 19 per cent or NOK 361 million. China, the United Kingdom and Poland were the biggest buyers of frozen cod so far this year.
Norway has exported 3,800 tonnes of frozen cod, including fillet, for NOK 165 million in September. This is a 4 per cent decrease in volume, while the value increased by 1 per cent or NOK 2 million compared with September last year.
“Frozen whole cod is the cod product with the lowest price growth, but the volumes are higher than at the same time last year. Uncertainty surrounding Brexit and stable demand is the main explanation for the UK being the market that has had the largest volume growth so far this year”, says Pettersen.
“At the same time, we see that both fresh and frozen fillets account for larger shares of the export volume and together with increased prices there has been considerable value growth for both products”, Pettersen continues.
Significant rise in value of clip fish exports
So far this year, Norway has exported 64,600 tonnes of clipfish for NOK 3.2 billion. Volume remains at the same level as last year, while the value of exports has increased by 8 per cent or NOK 249 million from the same period last year. In September, Norway exported 9,800 tonnes of clipfish worth NOK 553 million. This is a volume increase of 2 per cent, while the value increased by 18 per cent or NOK 86 million from September last year. Portugal, Brazil and the Dominican Rep. were the biggest buyers so far this year.
“The low volume of salted fish is one explanation for the increased export of clipfish to Portugal in recent months. This increase, together with continued growth for clipfish of saithe, means that total clipfish exports are on a par with last year. Cod clipfish continues to drive price increases, with sei clipfish also now starting to contribute to increased prices”, says Ingrid Kristine Pettersen, Seafood Analyst with the Norwegian Seafood Council
“After a couple of years of price falls, we now see a positive development in the price of sei clipfish. Especially in the last couple of months, the prices of both fresh whole, frozen whole and sei clipfish have increased significantly. Reasons behind this include increased demand in several markets. For example, increased purchasing power due to more stable oil prices has led Congo Brazzaville to become the next largest market for saithe clipfish”, says Pettersen.
Decline in salt fish exports
So far this year, Norway has exported 19,200 tonnes of salted fish worth NOK 1.1 billion. This is a decrease of 22 per cent, while the value fell by 12 per cent or NOK 152 million from the same period last year. In September, Norway exported 998 tonnes of salted fish worth NOK 47 million. Volume fell by 17 per cent, while export value fell by 19 per cent or NOK 11 million. Portugal, Spain and Greece have been the most important markets so far this year.
Large export value increase for dried fish
So far this year, Norway has exported 2,815 tonnes of whole dried fish worth NOK 492 million. This represents a volume decline of 157 tonnes, or 7 per cent, but a rise in export value of NOK 56 million or 15 per cent. In September, Norway exported 366 tonnes of dried fish worth NOK 76 million. This is a volume increase of 18 per cent and a value increase of 32 per cent or NOK 18 million. Italy has been the most important market so far this year.
“The export of dried codfish has got off to a good start this fall, and increased volumes have partially offset lower volumes at the start of the year. Good demand in Italy has helped keep prices high and the average price is now over 200 kroner a kilo”.
“Rising demand in Nigeria has also led to increased volumes and all-time high prices of of dried fish heads”, says Ingrid Kristine Pettersen, Seafood Analyst at the Norwegian Seafood Council.
Good value growth for Norwegian herring - and even stronger gains for 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.
An increase in value of king crab exports, whilst export of prawns increases in volume
So far this year, Norway has exported 1,600 tonnes of king crab for NOK 510 million. This is a 6 per cent increase in volume, while the value increased by 16 per cent or NOK 71 million. In September, we exported 170 tonnes of king crab worth NOK 63 million. Volume increased by 40 percent, while value increased by 66 percent or NOK 25 million. South Korea, the US and Japan haver been the main export markets for king crab so far this year.
So far this year, 12,300 tonnes of prawns have been exported, worth NOK 821 million. This is a 79 per cent increase in volume, while the value increased by 45 per cent or NOK 254 million. In September we exported 3,200 tonnes of prawns worth NOK 136 million. This is an increase in volume of 290 per cent, while the value increased by 92 per cent or NOK 65 million. Sweden, the UK and Iceland bought the most prawns so far this year.
“The growth in value for shrimp and shellfish is largely due to increased volumes for the largest species. For shrimp, there has been significant volume growth as a result of both increased imports and increased catches”, says Frank Isaksen, Seafood Analyst at the Norwegian Seafood Council.