Skip to content
Norwegian seafood export value in July totalled NOK 13 billion

Press release -

Norwegian seafood export value in July totalled NOK 13 billion

  • This is an increase of NOK 727 million, or 6 per cent, from the same month last year.
  • The largest markets for Norwegian seafood exports in July were Poland, Denmark and the Netherlands
  • Seafood from Norway was exported to a total of 111 countries in July. This is 1 more than in July last year.

"The reason behind the increase in export value for July is a weakened Norwegian krone against both the euro and the dollar. We see that a sharp decline in salmon prices was compensated by volume growth, and in the end, it is the currency effect that adds value," says Christian Chramer, CEO of the Norwegian Seafood Council.

"In a quieter period with relatively low volumes for the remaining major species exported, July broke records for herring and mackerel," concludes Chramer.

  • The UK saw the greatest growth in value, with an increase in export value of NOK 381 million, or 64 per cent, compared with the same month last year. The export volume to the UK ended at 19,092 tonnes, which is 117 per cent higher than the same month last year.

“So far this year, total exports to the UK have grown by 8 per cent in value terms in Norwegian kroner and by 12 per cent in volume terms. Apart from a positive trend for salmon and trout, the other growth is mainly due to exports of fishmeal and fish oil. Frozen whole cod has an overall volume growth of 3 per cent and continues to take a larger share of Norwegian exports. The UK is a significant market for Norwegian haddock. It is positive to see a clear increase for both frozen and fresh whole haddock to the market in July," says Victoria Braathen, the Norwegian Seafood Council's director in the UK.

Weakening of the Norwegian krona resulted in value growth for salmon

  • Norway exported 107,442 tonnes of salmon worth NOK 9.6 billion in July
  • The value increased by NOK 262 million, or 3 per cent, compared with the same month last year.
  • This is a growth in volume of 13 per cent
  • Poland, the Netherlands and the US were the largest markets for salmon in July

July saw a further decline in the price of salmon, as well as significant volume growth. However, the increase in export value was driven by a weaker Norwegian krone. Measured in euros, the export value was unchanged from July last year, while measured in US dollars, the export value fell by 2 per cent.

"Despite the fall in prices, the value of exports to several of the major markets is increasing," says Paul T. Aandahl, Seafood Analyst at the Norwegian Seafood Council.

“Germany saw the greatest growth in value in July, with an increase in export value of NOK 142 million, or 46 per cent, compared with the same month last year. The export volume to Germany ended at 4,800 tonnes, which is 53 per cent higher than the same month last year. This development must be seen in the context of low supplies at the beginning of the year, as well as the currency situation, which is favourable from an export perspective," says Aandahl.

Trout exports increase

  • Norway exported 8,025 tonnes of trout worth NOK 698 million in July
  • The value increased by NOK 186 million, or 36 per cent, compared with the same month last year
  • This is a growth in volume of 38 per cent
  • Thailand, Ukraine and the US were the largest markets for trout in July

Decline continues for fresh cod - farmed cod increases

  • Norway exported 2,384 tonnes of fresh cod worth NOK 137 million in July
  • The value fell by NOK 9 million, or 6 per cent, compared with the same month last year
  • Volume fell by 19 per cent
  • Denmark, the Netherlands and Spain were the largest markets for fresh cod in July

The decline in landings of fresh cod continues, and the export volume of fresh wild cod in July fell by as much as 45 per cent to just 1,429 tonnes. We must go back to 2019 to find a lower export volume of fresh wild cod in a July month. The export value of fresh wild cod fell 37 per cent to NOK 80 million.

For fresh farmed cod, the export volume increased by 200 per cent to 955 tonnes, while the export value increased by 185 per cent to NOK 58 million. Farmed cod accounted for 42 per cent of the export value of fresh cod.

While most wild cod is exported to Denmark, the Netherlands is the largest destination country for farmed cod. However, both markets are transit markets. Most of the fish goes on from there to the large fresh markets, both as whole fish and processed.

"The decline in fresh cod exports is expected, with lower quotas resulting in fewer landings and a lower volume. At the same time, we see that exports of farmed cod are stable at around 1,000 tonnes per month," explains Eivind Hæstvik Brekkan, Seafood Analyst at the Norwegian Seafood Council.

Frozen cod also falls because of the quota cut

  • Norway exported 2,290 tonnes of frozen cod worth NOK 147 million in July
  • The value fell by NOK 63 million, or 30 per cent, compared with the same month last year.
  • Volume fell by 32 per cent
  • The UK, China and Sweden were the largest markets for frozen cod in July

Naturally, lower cod quotas also resulted in a decline in the export volume of frozen cod in July.

The UK retains its position as the largest destination country for frozen cod, despite a 37 per cent decrease in export volume, from 1,277 last year to 800 tonnes in July this year. Both frozen fillet and frozen whole cod had lower export volumes to the UK, down 44 and 35 per cent respectively compared to July 2023.

China had the highest value growth in July, with an increase in export value of NOK 29 million, or 155 per cent, compared with the same month last year.

  • The export volume to China ended at 814 tonnes, which is 77 per cent higher than the same month last year. So far this year, the export volume to China has now exceeded 10,000 tonnes, which is more than 1,000 tonnes higher than at the same time last year.
  • However, this is still far lower than the previous year, and almost 50 per cent lower than at the same time in 2022.

Increased volumes of clipfish

  • Norway exported 5,436 tonnes of clipfish worth NOK 383 million in July
  • The value increased by NOK 5 million, or 1 per cent, compared with the same month last year.
  • This is a growth in volume of 16 per cent
  • Portugal, Congo-Brazzaville and the Dominican Republic were the largest markets for clipfish in July

For saithe clipfish, the export volume increased by 38 per cent to 3,329 tonnes, while the export value increased by 20 per cent to NOK 134 million.

For cod clipfish, the export volume fell by 16 per cent to 1,702 tonnes, while the export value fell by 10 per cent to NOK 227 million.

1,441 tonnes of cod clipfish were exported to Portugal in July. This is a decrease of 19 per cent from the same month last year. So far this year, however, export volumes to Portugal are up 1 per cent to 9,094 tonnes.

Congo-Brazzaville had the highest growth in value in July, with an increase in export value of NOK 26 million, or 131 per cent, compared with the same month last year. Most of the clipfish exported to Congo-Brazzaville is saithe clipfish. The export volume to Congo-Brazzaville ended at 1,134 tonnes, which is 162 per cent higher than the same month last year.

Salt fish exports increased

  • Norway exported 982 tonnes of salted fish worth NOK 82 million in July
  • The value increased by NOK 12 million, or 17 per cent, compared with the same month last year.
  • This is a growth in volume of 2 per cent
  • Portugal, Italy and Canada were the largest markets for salted fish in July

Portugal saw the greatest growth in value in July, with an increase in export value of NOK 22 million, or 51 per cent, compared with the same month last year. The export volume to Portugal ended at 727 tonnes, which is 48 per cent higher than the same month last year. So far this year, 12,900 tonnes of salted fish have been exported to Portugal, 14 per cent lower than last year.

Low stockfish volumes in a quiet month

  • Norway exported 170 tonnes of stockfish worth NOK 23 million in July
  • The value fell by NOK 8 million, or 25 per cent, compared with the same month last year
  • That's a growth in volume of 50 per cent
  • Italy, Nigeria and the US were the largest markets for stockfish in July

Only 31 tonnes of stockfish were exported to Italy, our largest stockfish market, in July. This is more than a halving from the same month last year.

July saw the greatest growth in the value of exports to Nigeria, with an increase in export value of NOK 6 million, or 266 per cent, compared with the same month last year. The export volume to Nigeria ended at 89 tonnes, which is 429 per cent higher than the same month last year. This means that more than half of the stockfish in July went to Nigeria. When it comes to changes in what are initially low volumes, there is a high percentage change.

“Stockfish of saithe, tusk and cod were all exported to Nigeria in July. The dried fish that goes to this market achieves a much lower price than that which goes to Italy. Despite the increase in July, the market situation in Nigeria remains challenging. A weak exchange rate for the Nigerian naira makes importing goods more expensive," says Eivind Hestvik Brækkan.

Record prices for herring

  • Norway exported 10,734 tonnes of herring worth NOK 211 million in July
  • The value increased by NOK 33 million, or 19 per cent, compared with the same month last year.
  • Volume fell by 2 per cent
  • The Netherlands, Poland and Lithuania were the largest markets for herring in July

July is usually the month of the year when the least amount of herring is exported. This year, however, exports are higher than in April, May and June. This is due to two things:

  • Low quotas for Norwegian spring-spawning herring (NVG), which is caught in autumn and winter
  • An increase in the quota for North Sea herring, which is mainly caught from May through the summer. This year, the North Sea herring season got off to a late start, which has pushed more of the exports, which are usually in May and June, into July.

“In July, frozen whole North Sea herring was the largest export product. This also includes the sought-after maiden herring, known as matjessild, which is demand by the Dutch," explains the Norwegian Seafood Council's Jan Eirik Johnsen, Manager for Pelagic Species.

So far this year, just under 6,000 tonnes of maiden herring have been exported to the Netherlands, compared with 6,900 tonnes last year, a decrease of 13 per cent. At the same time, the price of frozen whole North Sea herring in July rose from NOK 16.19 per kg last year to NOK 19.66 per kg this year, an increase of 21 per cent.

Other herring products also achieve a high price in the markets:

  • In July, a price record was set for frozen skinless fillet by NVG at NOK 21.97 per kg. The previous record was set in April at NOK 20.69 per kg, an increase of 6.2 per cent.
  • There is also a new price record for NVG herring flaps. This product achieved an average price in July of NOK 21.97 per kg and EUR 1.87 per kg. The previous record in NOK was from April this year at NOK 20.69 per kg, but in EUR it was from last month at 1.78 per kg.

“A weak Norwegian krone contributes to the price level of herring but is not the main explanation. For July, we see that currency contributes by 4 per cent, while increased prices contribute by as much as 12 per cent, when compared with July last year. A low total quota for herring is the most important factor behind the high prices. In addition, high prices for flour and oil are also pushing up prices for herring for consumption," says Jan Eirik Johnsen.

The best July for mackerel of all time

  • Norway exported 9,260 tonnes of mackerel worth NOK 220 million in July
  • The value increased by NOK 74 million, or 50 per cent, compared with the same month last year
  • This is a growth in volume of 39 per cent
  • Egypt, the Netherlands and Vietnam were the largest markets for mackerel in July

July and June are the months with the lowest exports of mackerel and are dominated by mackerel fishing in Northern Norway. Fishing in the north has been demanding, and 7,800 tonnes have been landed so far this year, compared with 8,600 tonnes last year.

At the same time, large mackerel have been caught in the north, with an average of well over 550 grams. This is well above the usual average for this area of around 480 grams.

A new value record is set for mackerel exports in July: A solid volume combined with a new price record for the month of July of NOK 22.73 per kg, gives a value of NOK 220 million. The previous record was NOK 172 million from 2021.

"Demand for Norwegian summer mackerel is reported to be good, partly as a result of Iceland and the Faroe Islands starting their mackerel fishery later than usual, and the Icelandic fishery is well behind last year," says Jan Eirik Johnsen.

“Egypt in particular demands summer mackerel, which is less fatty than autumn mackerel, which mainly goes to Asia. The Egyptians want a less fatty mackerel, as most of the mackerel is smoked," Johnsen explains.

Exports of king crab are falling

  • Norway exported 172 tonnes of king crab worth NOK 82 million in July
  • The value fell by NOK 29 million, or 26 per cent, compared with the same month last year
  • Volume fell by 30 per cent
  • The US, Hong Kong SAR and Vietnam were the largest markets for king crab in July

The export price of live king crab remains just above last year's July price of NOK 450 per kg but has been on a downward trend since May. At the end of May, demand for king crab was already slowing down, as the price was very high at the same time as uncertainty was spreading in the market linked to rumours that Russian fishing in the Barents Sea would start earlier than usual.

Russia's accelerated fishing in the Barents Sea is putting the brakes on demand for live Norwegian red king crab. They started fishing for red king crab in the Barents Sea on 1 July, instead of 1 September, which has pushed the price of live crab further down in July.

On the other hand, the price of frozen king crab has remained high at NOK 796 per kg, which is the second-best July ever.

The largest market for Norwegian king crab in July was the USA, which saw a 32 per cent increase in export value compared with the same month last year. A total of 45 tonnes were exported to the USA, with a value of NOK 24 million in July.

Snow crab exports plummet after early fishing

  • Norway exported 22 tonnes of snow crab worth NOK 2 million in July
  • The value fell by NOK 10 million, or 85 per cent, compared to the same month last year
  • Volume fell by 81 per cent
  • China, Vietnam and the US were the largest markets for snow crab in July

"With a record-breaking catch peak and record-high volumes exported during the first half of the year, it is not unexpected that exports are now declining," says Marte Sofie Danielsen, head of shellfish at the Norwegian Seafood Council.

For the first time since January, there was also a decline in the export price compared with the same month last year, with an average price of NOK 81.50 per kg for frozen snow crab. Out of a total of 22 tonnes exported, 19 of these went to China and Vietnam.

Only two tonnes were exported from Norway in July to the USA, which has been the largest market for Norwegian snow crab so far this year. There is strong competition from the supplier nation Canada, which exported almost 16,000 tonnes of snow crab to the USA in May. This is the largest volume of snow crab exported to the US from Canada in a single month since June 2015.

Record-breaking July for prawns

  • Norway exported 3,971 tonnes of prawns to a value of NOK 148 million in July
  • The value increased by NOK 78 million, or 111 per cent, compared with the same month last year
  • This is a growth in volume of 339 per cent
  • Canada, Iceland and Sweden were the largest markets for prawns in July

“The prawn fishery in the Barents Sea is good and there are many boats in the field. This has led to increased exports of frozen raw industrial prawns and frozen cooked shell prawns. As a result, we've recorded the strongest July ever in terms of value for prawns," explains Danielsen.

The growth in value is due to increased volumes, especially of these two products. However, the volume growth of 339 per cent is compared with a weak July last year but is still the strongest July in terms of volume since 1999.

More than 2,600 tonnes of industrial prawns were exported in July, compared with just 4 tonnes in the same month last year. This has mainly been exported to Canada and Iceland, both of which are experiencing a downward trend in stocks and quotas.

Canada thus had the highest growth in value in July, with an increase in export value of NOK 28 million compared with the same month last year. The export volume to Canada ended at 1,161 tonnes.

For frozen, cooked shell prawns, there was an increase in value of more than 121 per cent in July compared with last year. This has mainly gone to the transit market Denmark, the consumption market Ukraine and the hand-pill market Morocco.

Topics

Categories


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.

Contacts

Martin Skaug

Martin Skaug

Press contact Communications director +47 915 59 902

Proudly representing Seafood from Norway

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.