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Record Norwegian codfish exports in November

Press Release   •   Dec 03, 2015 04:56 GMT

Norway exported cod, saithe, haddock and other groundfish worth NOK 1.17 billion in November. This represents an increase of 2 per cent, or NOK 18.6 million compared to November 2014. November represents an all time high for export value. So far this year, codfish exports have totalled NOK 11.9 billion, NOK 1 billion higher than during the same period in 2014.

”2015 has proven to be a record year for codfish producers, following several years of lower prices, most products are now seeing improvements in market prices”, says Ove Johansen, Analyst with the Norwegian Seafood Council.

Towards a new record for clipfish exports

Norway exported clipfish worth NOK 382 million in November. A decline of 6 per cent, or NOK 25 million from last November. Total clipfish exports by volume were 8,016 tonnes, which is a reduction of 1,059 tonnes, or 12 per cent. Average prices for all clipfish were 6 per cent higher.

Atlantic cod clipfish accounted for NOK 226 million, a reduction of NOK 44 million from 2014. Prices rose by an average of 16 per cent compared with November last year. The value of sei clipfish exports were NOK 116 million, some NOK 7 million more than during November 2014. The price for saithe was 1 per cent higher than in November 2014.

Year-to-date clipfish exports exceeded NOK 3.6 billion, some 10 per cent or NOK 330 million more than during the same period last year, a probable all-time high in terms of realised export value for clipfish.

Strong exports for salted fish

Exports of salted fish, both whole and fillet, increased by NOK 11 million to a total of NOK 56 million for November. This marks an increase of 24 per cent from November 2014. By volume, exports were reduced by 21 per cent to 1,500 tonnes. Prices increased by an average of 2 per cent.

Exports of salted fish year-to-date have reached NOK 1.1 billion. An increase of NOK 210 million or 24 per cent compared to the same period last year. More than 60 per cent of salt fish exports have been to Portugal.

Lower volumes of stockfish, but higher prices achieved

Whole stockfish exports totalled NOK 91 million in November. This represents an increase of 5 per cent year-on-year. Total volumes exported in November were 607 tonnes, a year-on-year decrease of 28 per cent. Lofoten round cod exports were 429 tonnes by volume, worth some NOK 73 million. An increase of NOK 2.3 million or 3 per cent more than in November 2014. The average price achieved was NOK 169.99 per kg, a 59 per cent increase on prices in November 2014. The biggest export market was Italy, importing stockfish worth NOK 57 million in November.

In addition, exports of dried heads and backs were worth NOK 9 million. This is a reduction of NOK 10 million or 53 per cent compared with November 2014. Nigeria remains the largest importer of dried heads and backs.

Year-to-date, exports of stockfish, dried heads and backs totalled NOK 905 million, NOK 79 million or 10 per cent more than during the same month in 2014.

An export record for fresh fish products

The export value of all fresh groundfish products totalled NOK 202 million in November. This represents an increase of NOK 22 million or 12 per cent year-on-year. Export volumes fell by 7 per cent.

Exports of fresh Norwegian cod totalled NOK 70 million in November. A decline of 14 per cent compared with November 2014. The price of fresh cod averaged NOK 34.12 per kg. This is an increase of 33 per cent from last November. Exports of fresh whole saithe increased from NOK 9 to NOK 16 million in November, while exports of fresh whole haddock reduced from NOK 30 million to NOK 28 million.

Fresh fillets remained at the same level as last November at NOK 43 million. Exports of cod fillets fell by NOK 7 million to NOK 23 million, while exports of fresh haddock fillets rose from NOK 11 million to 17 million. The price of cod fillets averaged NOK 86.32 per kg, an increase of 29 per cent on November 2014 prices. Haddock fillet prices rose by 19 per cent to an average of NOK 70.67 per kg.

Exports of fresh cod products have totalled NOK 2.65 billion so far this year. This is some NOK 400 million more than during the same period in 2014. Fresh fish exports are at an all time high, both in Norwegian kronor and Euro terms. The total value for last year´s exports has already been passed, with a full month of 2015 still to run.

Exports of frozen products reduced

Exports of all frozen groundfish products were down by NOK 1.6 million to total NOK 431 million in November. Export volumes were up by 1 per cent.

Whole frozen fish exports increased by NOK 5 million to NOK 374 million kroner during November. Frozen whole cod increased from NOK 214 million to NOK 228 million. Frozen whole saithe decreased from NOK 14 million to NOK 13 million, and frozen whole haddock exports reduced from NOK 93 to NOK 88 million. Frozen whole Greenland halibut decreased from NOK 30 million to NOK 21 million, and redfish increased from NOK 9 million to NOK 16 million kroner in November compared with November 2014.

Frozen fillets fell from NOK 62 million to NOK 57 million in November. Total volumes declined by 28 per cent, while average prices increased by 27 per cent.

So far this year, exports of frozen groundfish products have totalled NOK 3.82 billion compared with NOK 3.86 billion during the same period in 2014, a reduction of 1 per cent.

The Norwegian Seafood Council works with the Norwegian fisheries and aquaculture industries to develop markets for Norwegian seafood through local market intelligence, market development and reputational risk management. The Seafood Council is headquartered in Tromsø and maintains local representatives in twelve of Norway's most important international markets. The Norwegian seafood industry finances the activities of the Norwegian Seafood Council via a tariff on all Norwegian seafood exports.

The Norwegian Seafood Council is a public company owned by the Ministry of Trade, Industry and Fisheries.