norwegian seafood export october 2022 Norwegian seafood exports

Norwegian seafood exports increased in the third quarter by NOK 3.7 billion (€270m/£233m or 10 percent compared to 2022

But a decline in value measured in Euros

Norway exported NOK 42.1 billion (€3.65bn/£3.1bn) worth of seafood in the third quarter. This is an increase of NOK 3.7 billion (€270m/£233m), or 10 percent, compared to last year.

”In terms of value, Norwegian seafood exports are still doing well. Salmon, trout, cod and pollack have had a historically strong third quarter behind them. However, it is still the weak Norwegian krone that is the most important driver of value growth,” says Christian Chramer, CEO of the Norwegian Seafood Council.

 

Already passed the total export value for 2021

So far this year, Norway has exported NOK 124.1 billion (€10.8bn/£9.3bn) worth of seafood. The total Norwegian seafood export in 2021 was NOK 120.8 billion (€10.4bn/£9.3bn).

“We can already see that 2023 will be a new record year for Norwegian seafood exports. Although most of the growth in value in the third quarter can be explained by the weak Norwegian krone, seafood from Norway is still a highly sought-after global commodity with a very strong position in many markets. Every day, a highly skilled seafood industry works to produce and develop quality products that ensure healthy, safe and sustainable food for the world. It makes me both proud and happy”, says Fisheries and Oceans Minister Bjørnar Skjæran (Ap).

 

Decrease in export value measured in euros

Measured in Norwegian kroner, July, August, and September were the best third quarter ever for Norwegian seafood exports.

“If, on the other hand, we measure seafood exports in euros, our largest and most important trading currency, there was an overall decline in value for Norwegian seafood exports. The reason is that the Norwegian krone has been significantly weaker in the third quarter compared to last year”, explains Chramer.

 

Fewer export products with price growth measured in euros

Measured in Norwegian kroner, in the third quarter, there was a price increase for as many as 15 of our 20 largest export products, while measured in euros, only 8 out of 20 products had a higher export price than in the third quarter last year.

“It tells of an underlying picture that is more muted than if we only look at the value development in the Norwegian kroner”, says Christian Chramer.

Fall in the consumer price index for food in the EU

The EU market had the largest share of Norwegian seafood exports in terms of value in the third quarter. 391,000 tonnes of Norwegian seafood were exported to the EU for NOK 25.1 billion (€2.1bn/£1.8bn), a value increase of 15 percent.

“The development in the EU, to which we exported 60 percent of all seafood in the third quarter, now shows an increasingly lower price increase for food products. The consumer price index for food in the EU markets fell in July and August. This also affects the price development for Norwegian seafood”, explains Chramer.

 

These were the largest export markets in Q3

Market

bn NOK

% change

Poland

5.4

23 %

Denmark

3.6

14 %

USA

3.3

16 %

Netherlands

2.8

18 %

France

2.7

8 %

Spain

2.1

29 %

China

2.1

0 %

UK

2.0

-2 %

Italy

1.7

18 %

Germany

1.4

22 %

     

 

Some facts about seafood exports in the third quarter
  • The largest markets for Norwegian seafood exports in the third quarter were Poland, Denmark and the USA
  • A total of 661,794 tonnes of seafood was exported in the third quarter. This is a reduction of 81,488 tonnes compared to last year. Here, mackerel contributes the largest decline in terms of volume.
  • Poland had the largest increase in value this quarter, with an increase in export value of NOK 997 million (€86.6/£75m), or 23 percent, compared to the same period last year. The export volume to Poland ended at 80,000 tonnes, 9 percent higher than the same quarter last year
  • Seafood was exported to 135 countries in the third quarter. This is the same number as in the same period last year
  • Salmon increases the value of all the major growth markets, while the UK has a decline in several species, such as mackerel, haddock, prawns, trout and cod. For its part, China has seen a decline in mackerel, cod and haddock.

 

Seafood exports in September
  • The export value in September ended at NOK 15.9 billion (€1.4bn/£1.3bn)
  • This is an increase of NOK 1.3 billion (€113m/£97m), or 9 percent, compared to the same month last year
  • This is a record-high export value for Norwegian seafood in a single month. In total, the value was NOK 225 million (€19.5m/£17m) higher than the previous record month, which was in March 2023

 

Source Link

the fishing daily advertise with us
the fishing daily advertise with us
the fishing daily advertise with us
Follow The Fishing Daily