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Norwegian Seafood Exports Reach Record-high

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Norwegian Seafood Exports Reach Record-high

Norwegian Seafood Exports Reach Record-high
January 09
09:32 2018

Norway exported 2.6 million tonnes of seafood worth NOK94.5 billion (€9.76 billion) in 2017. This is an increase in value of 3 per cent, or NOK3 billion, and an increase in volume of 7 per cent from the record year of 2016. This is the equivalent of 36 million meals every day, year round.

“2017 was yet another fantastic year for Norwegian seafood exports. The export value increased by 3 per cent and we see a growth in value and volume for overseas markets in Asia and the U.S. Simultaneously, exports to the EU were unchanged from 2016,” says Renate Larsen, Managing Director at the Norwegian Seafood Council.

Of the total value of Norwegian seafood exports in 2017, 72 per cent came from aquaculture, while seafood from the fisheries was responsible for 28 per cent. Measured in volume, the distribution was 40 per cent from aquaculture and 60 per cent from fishing.

Norway exported 1 million tonnes of fish from aquaculture worth NOK67.7 billion in 2017. This is an increase in value of NOK2.3 billion or 3.6 per cent from 2016. Exported volume was at the same level as 2016.

“An increased salmon price for European consumers has reduced the demand for salmon in Europe. Since Europe is the dominant market for Norwegian salmon, a reduction in salmon sales has a large effect on the export price. This has contributed to lower salmon prices in the last six months of the year,” says Larsen.

Norway exported 1.6 million tonnes of seafood from fishing worth NOK 26.8 billion in 2017. This is an increase in value of NOK628 million or 2.4 per cent, while the volume increased by 170,600 tonnes or 12 per cent from 2016.

“For whitefish, we see that increased value is due to increased export volume, but there are differences among the species. For example, Norwegian exporters were paid more for most cod products in 2017 compared with 2016,” says Larsen.

Salmon is the most important species for Norwegian seafood exports with over 68 per cent of the total export value and 38 per cent of the volume. Trout pulls the volume down so that the exports from aquaculture are unchanged compared with 2016. The decline in the trout exports is complex and the reasons include fewer producers concentrating on trout in Norway and the disappearance of the Russian market.

There were records for the species salmon, cod and haddock when measured in export value in 2017.

Shellfish Exports Down

Norway exported 40,000 tonnes of shellfish valued at NOK1.7 billion in 2017. This is a decrease in volume of 2 per cent and a reduction in value of 7 per cent from 2016.

Norway exported 9,221 tonnes of prawns worth NOK 698 million in 2017. This is a reduction in value of 5 per cent and a decline in volume of 4 per cent from 2016. Norway exported king crab worth NOK 509 million in 2017. This is a reduction of 4 per cent from 2016. NOK 225 million worth of snow crab were exported in 2017, a reduction of 34 per cent from 2016. Sweden was the largest export market for shellfish from Norway in 2017, followed by South Korea and Denmark.

“The reduced export value for shellfish in 2017 is because of reduced catches of king crab, snow crab and prawns. Increased prices have not been able to compensate for this, but 2015 and 2016 were extremely good years and in 2017 we were far above previous years,” explains Ingrid Kristine Pettersen, Seafood Analyst at the Norwegian Seafood Council.

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