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Norwegian whitefish exports total NOK 4.2 billion in Q1 2017

Press Release   •   Apr 05, 2017 13:30 GMT

Norway exported 129 000 tonnes of cod, saithe, haddock and other groundfish to a value of NOK 4.2 billion in Q1 2017. This is a 5 per cent increase in terms of volume and a 6 per cent increase in value from the same period last year. The biggest increase was for frozen products, particularly frozen whole fish. But there was also a substantial increase in exports of whole clipfish.

In March, Norway exported cod, saithe, haddock and other whitefish worth NOK 1.6 billion Norwegian kroner. This is an increase of 16 per cent in both volume and value, compared with March 2016.

”Exports of fresh whole Norwegian Cod increased by NOK 50 million in value during the first quarter compared with the same period in 2016. The export value of whole quality marked Skrei decreased by 6 per cent. This is due to a corresponding reduction in volume of 6 per cent. For cod prices have increased across most categories. Meanwhile, the rise in raw material prices have been higher than the export prices, which is also contributing to margin pressure for the industry. The increase in value for frozen whole fish, is primarily due to increased exports of frozen whole haddock to China. Easter sales of clipfish to Brazil is now complete, and this has led to both volume and value increases compared with Easter 2016. At the same time, a strengthened Nigerian currency explains much of the increase in exports of stockfish and stockfish heads”, says Ingrid Kristine Pettersen, Codfish Analyst at the Norwegian Seafood Council.

Increases for fresh and frozen products

Norway exported 45,464 tonnes of fresh whitefish products with a value of NOK 1.4 billion in the first quarter. This is a volume decrease of 3 per cent and an increase in value of NOK 22.7 million, or 2 per cent, compared with the same period last year.

Norway exported 31,224 tonnes of fresh whole Norwegian Cod, including Cod, worth NOK 967 million in the first quarter. There was a volume increase of 814 tonnes and a value increase of NOK 77.9 million or 9 per cent from the same period last year.

Norway exported 4,153 tonnes of quality marked Skrei worth NOK 153 million in the first quarter. There was a volume decrease of 264 tonnes and a value reduction of NOK 8.9 million compared with the same period last year.

Norway exported 48,182 tonnes of frozen whitefish products with a value of NOK 1.3 billion in the first quarter. This is a volume increase of 8 per cent and a value increase of NOK 126 million or 11 per cent compared with the same period last year.

Norway exported 20,753 tonnes of frozen cod worth 686 million in the first quarter. This is a volume decrease of 7 per cent and a decline in value of NOK 10.4 million, or 1 per cent, compared with the same period in 2016.

Norway exported 15,113 tonnes of frozen whole haddock worth NOK 346 million in the first quarter. This is a volume increase of 16 per cent and an increase of NOK 95 million or 38 per cent by value compared with the same period last year. Almost half of the exports of frozen whole haddock in the first quarter went to China.

Declines for whole salted fish and increases for salted fish fillets

Norway exported 8,386 tonnes of salted fish worth NOK 364 million in the first quarter. This is a volume reduction of 21 per cent and a reduction in value of NOK 69 million or 16 per cent compared with the same period last year.

The largest decreases were in exports of whole salted codfish, reducing by NOK 83 million in value and 2,388 tonnes in volume. The reason may be the high first-hand price, which has made salting less profitable. At the same time the salted fish fillets category increased in value by NOK 16.8 million by 288 tonnes in volume. Most of the increases in value were due to increased exports to Italy, but we are also seeing increasing exports of salted fish fillets to Spain and Portugal.

Up for clipfish

Norway exported 22,370 tonnes of clipfish worth NOK 924 million in the first quarter. This is a volume increase of 21 per cent and an increase of NOK 109 million or 13 per cent compared with the same period last year.

The biggest increases were to Brazil, for cod and saithe clipfish. Saithe clipfish exports increased by NOK 44.5 million and by 1,352 tonnes compared with the same period last year, while exports of cod clipfish increased by NOK 40.5 million and 588 tonnes.

Growth in value for stockfish

Norway exported 1,307 tonnes of whole stockfish worth NOK 181 million in the first quarter. This is a volume increase of 23 per cent and a value increase of NOK 24 million or 15 per cent compared with the same period last year.

Stockfish exports to Italy saw the strongest growth, increasing in value by 15 per cent or NOK 17.5 million in the first quarter.

There was also an increase of 171 per cent or 1,455 tonnes in export volumes of dried fish heads. Value grew by 205 per cent or NOK 24.6 million, attributable to a stronger currency in one of our key stockfish markets, Nigeria.

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.