Norwegian seafood exports saw a record month of July this year

Down 6% in volume, but up 11% in value terms compared to the same period in 2018, last month Norwegian seafood exports hit the strongest month of July to date. Norwegian exporters shipped 164,000 tonnes of seafood worth NoK7.8 billion overseas

The booming seafood exports include a hefty amount of snow crab production, with 390 tonnes worth NoK55 million exported last month – representing a massive 236% increase in volume and a 244% value hike over July last year.

Snow crab exports so far this year come to 1800 tonnes valued at NoK244 million, with Japan and Denmark the key export destinations
‘There are a number of boats that are now doing well with snow crab fishing. This season has seen a lot of fishing, with a high proportion exported as frozen goods to Asian markets in July. The demand for Norwegian crabs in Asia is high, and the snow crab helps to meet this demand”, said Norwegian Seafood Council chief analyst Frank Isaksen.

241 tonnes of king crab worth NoK68 million were exported last month. This is a decrease of 6% and a value drop of NoK4 million, or 6% compared to July last year.

So far this year, Norway has exported 1000 tonnes of king crab worth NoK333 million. This is a 16% increase in volume and a 24% value increase, with South Korea and Japan the most important king crab markets in July.

So far this year, Norway has exported 1.4 million tonnes of seafood worth NoK59 billion. Export volume has fallen by 11%, while export value has increased by 7% or NoK3.9 billion compared with the same period last year.

‘Growth in the export volume of salmon in July, combined with increased prices, is the main reason why the value of Norwegian seafood exports has remained high during July,’ said Norwegian Seafood Council analyst Paul T. Aandahl.

‘Seafood exports fluctuate with the seasons and normally July is our weakest export month. For fishery exports, July 2019 was our second highest July month ever, with an export value of 1.7 billion. This is 5% higher than last year, and just 0.5% less than July 2015, a record year for the fisheries sector.’

He added that aquaculture exports totalled NoK6.2 billion – also a record for the month of July.
‘78% of total seafood exports in July came from aquaculture,’ he said.

Fresh cod down

Norway exported 1400 tonnes of fresh cod, including fillets, with a value of NoK71 million during July. This is 47% down in volume and 17% down in in value compared to July last year.

‘According to the Norwegian Fishermen’s Sales Organization, our fishermen have never been better paid for cod than in July 2019. This is also reflected in export prices. The price of fresh whole cod in July this year is 32% (approx. NOK 9.5 per kg) higher than in July last year. Fresh fillets saw a price rise. The low export volumes of fresh whole cod, in addition to a favourable currency situation, may explain the rise in prices,’ said Ingrid K. Pettersen, Seafood Analyst with the Norwegian Seafood Council.

Norway exported 4400 tonnes of frozen cod, including fillets, worth NoK181 million in July. This is a 13% increase in volume and a value increase of 18% over July last year.