Norway exported seafood with a value of NOK 11.6 billion July, representing an increase of NOK 2.1 billion, or 23 per cent, compared to July 2021. Year to date, Norway has exported NOK 81.7 billion by seafood value. This is an increase of NOK 18.5 billion, or 29 per cent, compared to last year.

“After a record-breaking first half of the year, July follows on as the best July month ever for Norwegian seafood exports. Since records began, July was also the strongest single month for salmon and trout. Despite the strong growth in the value of seafood exports so far this year, challenging times can still impact development going forward”, says Børge Grønbech, Acting CEO of the Norwegian Seafood Council.

“While the export volume for important species such as salmon, cod, mackerel, and herring fell in July, high salmon prices made the largest contribution to July´s strong seafood export results. At the same time, the export price for several other species and products also reached record highs in July. For example, clipfish of cod and saithe and frozen whole cod and haddock have achieved prices not seen before”, Grønbech explains.

“These are also challenging times for the Norwegian seafood industry, which is impacted by high inflation and cost growth. Both factors have weakened most consumer´s purchasing power. In addition, supply logistics out to the markets are challenging in several areas. These factors can influence the development of seafood exports going forward”, points out Grønbech.

July was the best month for salmon exports

  • 96,500 tonnes of salmon with a value of NOK 8.7 billion were exported in July.
  • Export volume fell by 5 per cent.
  • Export value increased by NOK 1.8 billion, or 27 per cent, compared to July last year.
  • Poland, Denmark, and France were the biggest markets for Norwegian salmon in July.

July 2022 was the best single month ever for salmon exports. Exports were NOK 10 million higher than the previous record month, which was in June this year. The price for fresh whole salmon in July was NOK 84.87 per kg.

Seasonal variation for salmon exports

We still see high demand for Norwegian salmon, while export volume is behind last year's level. The price for fresh whole salmon in July was 35 per cent higher than last year's for the same month.

“We have seen the pattern of increased volume and lower prices in late summer and autumn in recent years. For example, the export volume for fresh whole salmon in July this year was 17 per cent higher than in June, and the price was 12 per cent lower than in June this year”, says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council.

British consumers prioritize seafood

The UK has seen the largest volume growth for salmon this year, increasing from 5,400 tonnes to 35,500 tonnes. Growth continues in July, with an increase of 9 per cent, or 400 tonnes, to 5,100 tonnes.

Our UK seafood envoy, Hans Frode Kielland Asmyhr, reports from the market:

“Even with rising prices, British consumers prioritize buying seafood. Many Britons are keen to eat healthily, and it is pleasing to see that consumers stick with these good habits even with rising prices. The growth in the volume of salmon to Great Britain can also be seen in the context of somewhat lower production of salmon from Scotland”.

Record for trout exports in July

  • 5,200 tonnes of trout with a value of NOK 531 million were exported in July.
  • Export volume fell by 16 per cent.
  • Export value increased by NOK 152 million, or 40 per cent, compared to July last year.
  • The USA, Lithuania and Armenia were the biggest markets for Norwegian trout in July.

“For the trout, we see the same pattern as for salmon. Trout exports in July were also the highest ever measured in value. Lithuania, Armenia, and Kazakhstan were the biggest growth markets for trout in July”, says Aandahl.

Record high export prices for clipfish

  • Norway exported 5,400 tonnes of clipfish with a value of NOK 358 million in July.
  • There is a reduction in export volume of 14 per cent.
  • Export value increased by NOK 49 million, or 16 per cent, compared to July last year.
  • Portugal, Brazil, and Congo-Brazzaville were the biggest markets for Norwegian clipfish in July.

For the third month, export prices for cod and pollack clipfish were at record high levels. In July, the price of clipfish from cod was NOK 107 per kg, while the price for clipfish from saithe was NOK 46 per kilo.

Price-conscious consumers in Portugal

After volume growth in the first half of the year, the export volume for cod clipfish to our largest market Portugal fell by 19 per cent in July, to a total of 1,300 tonnes. However, higher prices contributed to exports increasing by 18 per cent to a total of NOK 142 million.

“Portugal is experiencing many of the same challenges that we see in most other markets, with higher inflation than in many decades and weak economic development. Higher food prices mean that Portuguese people plan more of their grocery shopping and buy fewer items on impulse. Although much of the clipfish is traditionally sold through marketing campaigns in Portugal, the high price increase creates some uncertainty about future developments”, says Eivind Hestvik Brækkan, Seafood Analyst with the Norwegian Seafood Council.

Exports of frozen whole cod to the UK increase

  • Norway exported 4,600 tonnes of frozen cod worth NOK 255 million in July.
  • Export volume fell by 7 per cent.
  • Export value increased by NOK 62 million, or 32 per cent, compared to July last year.
  • China, the UK, and Denmark were the largest markets for frozen cod from Norway in July.
  • The export price of frozen whole cod continues to increase and was NOK 54.12 per kg in July.

“The export volume of frozen cod to the UK increased by as much as 62 per cent, to a total of 1,200 tonnes, with an export value of NOK 80 million. The UK recently introduced a 35 per cent increase in customs tariffs on imports of Russian fish, which may contribute to increased demand for Norwegian cod in the future”, says Brækkan.

Low season for fresh cod

  • Norway exported 2,500 tonnes of fresh cod including fillets to a value of NOK 123 million in July.
  • The volume increased by 6 per cent.
  • The value increased by NOK 30 million, or 32 per cent, compared to July last year.
  • Denmark, Germany, and Sweden were the biggest markets for fresh cod from Norway in July.

“As normal, the export volume of fresh cod was relatively low in July. Fresh fillet had a record high export price of NOK 114, but a decrease in export volume of 10 per cent, to a total of 260 tonnes. Export value totalled NOK 30 million.

2,200 tonnes of fresh whole cod were exported with a value of NOK 92 million, representing a volume increase of 8 per cent, or 150 tonnes, and a value increase of 34 per cent, or NOK 23 million, compared to July last year”, says Brækkan.

The export price of salted fish reached a historical high in July

  • Norway exported 1,200 tonnes of salted fish to a value of NOK 78 million in July.
  • Export volume increased by 5 per cent.
  • The export value increased by NOK 26 million, or 49 per cent, compared to July last year.
  • Portugal, Italy and Spain were the biggest markets for Norwegian saltfish in July.

“The export price for salted whole cod continues to rise, and for the first time was above NOK 75 in a single month”, says Brækkan.

“The export volume of salted cod fish to Portugal fell by 4 per cent in July, to 640 tonnes, and an export value of NOK 50 million. So far this year, however, the export volume has increased by as much as 46 per cent”, says Brækkan.

Decline for stockfish in July

  • Norway exported 133 tonnes of stockfish to a value of NOK 23 million in July.
  • The volume fell by 46 per cent.
  • The value fell by NOK 12 million, or 34 per cent, compared to July last year.
  • Italy, Nigeria, and the USA were the biggest markets for Norwegian stockfish in July.

” The export volume for cod stockfish to our largest stockfish market, Italy, fell by a whopping 61 per cent in July, to just 40 tonnes. However, the export price to Italy continues to rise, and was NOK 239 per kg last month. This is still somewhat lower than historical peak levels”, says Brækkan.

Good prices for North Sea herring for the consumer market

  • Norway exported 12,300 tonnes of herring worth NOK 166 million in July.
  • The export volume fell by 2 per cent.
  • Export value increased by NOK 7 million, or 4 per cent, compared to July last year.
  • Poland, the Netherlands, and Spain were the biggest markets for Norwegian herring in July.

For the past two years, Norwegian fishermen have not had free access to fish North Sea herring in the UK zone. This has led to an earlier start to the fishing season with many small herring of lower quality. More than half of the North Sea herring has gone to meal and oil this year. Less North Sea herring for consumption has led to increased prices for North Sea herring fillet products, and in July the average price for skinless fillets increased by 26 per cent to NOK 20.10 per kg.

Exporters are satisfied with the herring season

This year, 7,000 tonnes of whole cured North Sea herring were exported to the Netherlands in May - July, compared to 8,100 tonnes last year, a decrease of 14 per cent.

“Usually, June and July are high season for the export of herring to the Netherlands, but due to the early start of the season, exports increased in May this year and fell in June and July”. says Jan Eirik Johnsen, Manager for Pelagic Species with the Norwegian Seafood Council.

“The exporters describe this year's food season as a decent season, and it went as expected given the early start. The Dutch have received the volumes they wanted, and the decline is also due to reduced herring stock levels because of the corona pandemic's impact on herring sales”, sums up Johnsen.

Egypt has become an important market for mackerel

  • Norway exported 7,800 tonnes of mackerel to a total value of NOK 149 million in July.
  • There is a decrease in export volume of 32 per cent.
  • Export value fell by NOK 23 million, or 14 per cent, compared to July last year.
  • Egypt, Vietnam, and Lithuania were the biggest markets for Norwegian mackerel in July.

“With a large mackerel quota and lack of access to fishing in the UK zone, this year's mackerel fishing also started early. The summer mackerel is sought after in markets where it is smoked, such as in Egypt. Egypt has become an important market for both herring and mackerel from Norway. Last year, Egypt was the largest market in volume for herring and mackerel combined, and so far this year the export of these two species has increased by 63 per cent, from 21,000 to 34,000 tonnes”, says Johnsen.

Prawn exports triple in July

  • 2,300 tonnes of prawns with a value of NOK 109 million were exported in July.
  • This represents an increase in volume of 228 per cent.
  • The export value increased by NOK 52 million, or 92 per cent, compared to July last year.
  • Iceland, Sweden, and China were the biggest markets for Norwegian prawn in July.

The trend of growth in prawn exports continues. Norwegian prawn landings increased in July, and we also see that over 1,100 tonnes of prawns for the industry were exported to Iceland in July, compared to nothing in 2021. For frozen peeled prawns, we see continued growth to the UK, with an increase of 21 per cent, or 23 tonnes, to a total of 131 tonnes, while the volume to Sweden fell by 43 per cent, or 81 tonnes, to a total of 107 tonnes.

Decrease in king crab export volume and value in July

  • Norway exported 114 tonnes of king crab worth NOK 62 million in July.
  • There is a decrease in export volume of 58 per cent.
  • Export value fell by NOK 55 million, or 47 per cent, compared to July last year.
  • The USA, Hong Kong SAR and South Korea were the biggest markets for Norwegian king crab in July.

For live king crab, the export volume was almost halved from July last year, with only 99 tonnes exported last month. The export volume to the USA is unchanged at 25 tonnes, while the volume to both Hong Kong SAR and South Korea has more than halved, to 25 and 18 tonnes respectively.

It has been more demanding to export live king crabs to the Asian markets. Important reasons for the decline are corona restrictions, challenging logistics and transport conditions and increased competition.

For frozen king crab, only 14 tonnes were exported in July, a decrease of over 80 per cent or 65 tonnes, from July last year.

Snow crab exports fell sharply in July

  • Norway exported 226 tonnes of snow crab to a value of NOK 32 million in July.
  • There is a reduction in volume of 73 per cent.
  • The value fell by NOK 168 million, or 84 per cent, compared to July last year.
  • Vietnam, Denmark, and Bulgaria were the biggest markets for Norwegian snow crab in July.

Landings of snow crab were far higher in the first months of the year, which meant that the larger volumes were exported early in the year.

In July, Vietnam stood out with an increase in export volume of 148 per cent or 48 tonnes, to a total of 80 tonnes, while the export volume to the USA fell from over 100 tonnes last year to almost nothing in July this year.