Norway’s seafood exports expected to hit NoK100 billion this year
China, South Korea and Japan have bought the largest volumes of Norwegian mackerel in 2019. Image: Sjømatrådet

Norway’s seafood exports expected to hit NoK100 billion this year

Norwegian seafood exports this year have already totalled 1.80 million tonnes, valued at NoK76.20 million and while this is a 7% drop in volume, the value of exported seafood is up 8% – a NoK 5.50 billion increase over the same period last year – so will Norway’s seafood exports top the NoK100 billion mark for the first time?

‘All the key seafood species have seen growth in export value in 2019,’ said Tom-Jørgen Gangsø, Director of Market Insight and Market Access at the Norwegian Seafood Council.

‘The largest growth has been salmon with an increase of NoK3 billion. Globally, there is still strong growth in demand for Norwegian salmon. The second largest growth has been mackerel, with an increase of NoK604 million, or 49% from the same period last year. A weak Norwegian kroner remains an important contributor to the total increase in exports.’

‘There has been strong volume growth from both Norway and other salmon producing nations into the market,’ added Norwegian Seafood Council Seafood Analyst Paul T. Aandahl.
‘That increase in supply is the main reason why salmon prices in 2019 are somewhat below last year’s level.’

South Korea craves Norwegian seafood

South Korea is a world leader in seafood consumption, and consumers know what they want. The latest study shows that the origin of seafood is one of the most important pieces of information consumers are looking for at the point of purchase – which is one of the reasons 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,’ said Gunvar L. Wie, the Seafood Council’s fisheries envoy in Japan and South Korea.