The value of Norwegian seafood exports reached an all-time high in March than in 2021. The March volume pulled the amount for the first three months of the year up to NOK 27.7 billion. This first-quarter amount was, however, still slightly less than the same period last year.
“Norwegian seafood exports have had a solid start in 2021, primarily due to a substantial increase in export value in March, especially for salmon. Thanks to a record high volume, salmon exports in March are the highest recorded in a single month”, says Renate Larsen, the Norwegian Seafood Council’s CEO.
There was a decline in export value in both January and February, but this reversed in March. Historically, it is only in October 2019 that the export value has been higher in a single month.
— In March, seafood worth NOK 10.9 billion was exported
— This represents an increase in value of 13.5 per cent, or NOK 1.3 billion, compared with March last year.
Even though the corona pandemic continues to affect the seafood markets, it is gratifying that Norwegian seafood’s export value has never seen a more vital March than this year. Our seafood is sought after all over the world. Behind the numbers is an adaptable industry with good people at all levels”, says Odd Emil Ingebrigtsen (H), Minister of Fisheries and Seafood.
“2021 has given us the second-best result in history for seafood exports in the first quarter. Nevertheless, we must acknowledge that there are still challenging times for parts of the industry. This especially applies to cod products, such as fresh cod and clipfish”, says Renate Larsen.
She also points out that a weak Norwegian krone helped to keep the export value up in 2020. Seafood exports have not benefitted from that support this year.
“Although Norwegian seafood has become more expensive for buyers, there have been large volumes and relatively strong demand for salmon, herring, and king crab products in the first quarter”, says Renate Larsen.
“The value of salmon exports in March was the highest recorded in a single month, which is primarily due to a record high volume. Although the Norwegian krone has strengthened against the euro and US dollar, the average price in March was only one percent lower than in the same period last year”, says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council.
“Exports of frozen cod from Norway to the UK do not appear to be affected by Brexit. Exports of frozen cod to the United Kingdom and France increased by more than 500 tonnes in the first quarter of 2021. This corresponds to an increase of 37 and 21 per cent, respectively”, says Eivind Hestvik Brækkan, Marine Analyst with the Norwegian Seafood Council.
“Prawn exports to Denmark and the UK in the first quarter are declining, but a good March in the UK gives reason for cautious optimism. Another bright spot is growth in both volume and value in February and March in our largest market Sweden, compared with the same period last year”, says Ørjan Kjærvik Olsen, Prawn and Shellfish Analyst with the Norwegian Seafood Council.
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.
2021 ScandAsia. All Rights Reserved.