Decline in value of Norwegian salmon

The value of exports of Norwegian seafood in the first quarter of 2008 was NOK 9.3 billion. This is a decline of NOK 521 million or 5.2 % compared with the same period in 2007, according to the latest figures from Statistics Norway and the Norwegian Seafood Export Council (NSEC). Exports in March totalled NOK 2.9 billion, a reduction of NOK 780 million.

“Despite the downturn in seafood exports this year to date, the figures still mark the highest first-quarter seafood exports ever registered,” points out Egil Sundheim, director of market information and market access with the Norwegian Seafood Export Council.

At the end of March the value of Norwegian salmon exports was NOK 4.1 billion, down by NOK 247 million or 6% compared with the same period last year. Compared with last year, the decline is attributable to a fall in the export price of Norwegian salmon and the fact that Easter was early this year. France and Poland are the biggest importers of Norwegian salmon and growth is being seen in exports to both of these markets. Denmark and the UK showed the biggest decline in imports. In the same period, exports of Norwegian Fjord Trout increased by NOK 14 million to a total value of NOK 365 million. The biggest buyers of Norwegian Fjord Trout are Russia and Ukraine.

Exports of herring increased by NOK 242 million to a total value of NOK 1.2 billion. This is an increase of almost 27 per cent. Russia is the biggest importer, with a value of NOK 322 million. Exports of mackerel declined by NOK 28 million to NOK 248 million. China and Japan are the biggest buyers of mackerel.

Clipfish exports fell in the first quarter by NOK 195 million to NOK 712 million. The early Easter this year meant that Brazil’s sizeable purchase of clipfish for Easter consumption took place in December last year, which explains the reduction. Brazil remains the biggest market for clipfish, with the value of exports in March totalling NOK 304 million.

Exports of salted fish including fillets totalled NOK 513 million, a reduction of NOK 154 million. The first quarter decline is due to a reduction in the volume of exports. Portugal is the biggest importer, with exports valued at NOK 276 million. Spain is the next biggest, with a value of NOK 103 million.

Drop in exports to the EU
Exports to the EU fell by 9% or NOK 557 million to NOK 5.6 billion. Within the EU, Poland is showing the biggest growth with exports valued at NOK 565 million, an increase of 42 per cent. The increase is due primarily to growth in exports of Norwegian salmon. France remains our biggest market in the EU with a value of NOK 963 million, up by 4.3%. The biggest decline was seen in Denmark, with a reduction of NOK 312 million.

After France, Russia is our most important export market with a value of NOK 910 million. This is a reduction of 4.3%. The biggest growth in exports was to Poland, Nigeria and Ukraine.

For further information, please contact:
Director Egil Sundheim, tel.: +47 905 77 293
Statistics Manager Jan Ståle Lauritzen, tel.: +47 915 17 8 97