Exports of seafood from Norway are continuing a record-breaking streak, and this year has seen some of the best results ever for the Norwegian seafood industry.
‘After a record-breaking first half of the year, July follows on as the best July month ever for Norwegian seafood exports,’ said Børge Grønbech, Acting CEO of the Norwegian Seafood Council.
‘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.’
Seafood valued at NoK11.60 billion was exported during July, 23% up on the same period in 2021, while Norway’s seafood exports as a whole this year are worth a healthy NoK18.50 billion, a 29% increase over the same period last year.
‘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,’ Børge Grønbech explained.
‘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 purchasing power. In addition, supply logistics out to the markets are challenging in several areas. These factors can influence the development of seafood exports.’
Norway exported 5400 tonnes of clipfish with a value of NoK358 million in July. This is a reduction in export volume of 14%, although export value increased by NoK49 million, or 16%, compared to July last year.
Portugal, Brazil, and Congo-Brazzaville were the biggest markets for Norwegian clipfish in July.
Norway exported 4600 tonnes of frozen cod worth NoK255 million in July, a 7% drop in volume but a 32% increase in value compared to July last year.
China, the UK, and Denmark were the largest markets for frozen cod from Norway in July.
It’s currently the low season for fresh cod and Norwegian exporters shipped 2500 tonnes of fresh cod, including fillets, to a value of NoK123 million last month. This represents a 6% increase in volume, and a 32% increase in value compared to July 2021.
‘As normal, the export volume of fresh cod was relatively low in July. Fresh fillet had a record high export price of NoK114, but a decrease in export volume of 10%, to a total of 260 tonnes. 2200 tonnes of fresh whole cod were exported with a value of NoK92 million, representing a volume increase of 8%, or 150 tonnes, and a value increase of 34%, compared to July last year,’ said seafood analyst Eivind Hestvik Brækkan.