Murmansk-based Nord-West Company making breakthrough in Russia's whitefish export

Unexpectedly for market participants JSC Nord-West F.C. based in Murmansk has taken the second place in Russia's seafood export in January 2012, reports http://www.megafishnet.com/.

The rating has been made by FISHNET analysts on the basis of customs declarations and it does not cover export shipments of Russian fish from beyond the nation's EEZ as those are registered by the Federal State Statistics Service (Rosstat).

More specifically, according to FISHNET's report, in January 2012 the company exported 2855 MT of frozen cod and haddock fillets and mince at the total statistical value of ca. USD 14.5 million. In February 2012 the company did not export seafood at all and correspondingly descended to the fourth position in the exporters' rating through the first two months of 2012.

High product value has led the company to the second place in the rating of Russian seafood exporters in January 2012 with a result of 8.28% of the total export value, the share falling down to 3.56% through January-February 2012. In the opening month of the year only Oceanrybflot plc based in the Russian Far East outdid Nord-West with 11.71% (USD 20.5 million), though its advantage could be attributed to export of raw fish with low level of processing. Oceanrybflot exported w/r chum and pink salmon (8,700 MT) headed pollock (2,100 MT) to China and pink salmon, sockeye and chum salmon caviar to South Korea (579 MT). In January-February 2012 there were two more companies (both from the Russian Far East) which left Nord-West behind, Turnif plc and NBAMR plc namely. Turnif exported seafood at the total value of USD 18.8 million (4.64%) and NBAMR - USD 18.3 million (4.52%).

As for the shipments volume, Nord-West plant was also one of leading exporters in volume terms, in January it took the 13th place with the result of 2.33% of the total export volume, though through the first two months of the year it descended to the 29th position with the share of 0.99%.

According to the customs declarations, Nord-West shipped all its cod and haddock fillets and mince via UK-based importer BRUKHOFF PARTNERS LP. The destination country for the shipments was not specified in customs declarations.

Shipments of JSC Nord-West F.C. in January-February 2012

Note: The table has been compiled by FISHNET analysts on the basis of customs declarations.

For comparison, through the whole year 2011 Nord-West exported 2,262 MT of seafood at the total value of more than USD 11.7 million (statistical value). The products were shipped to the USA, UK, Germany, France, Belgium, Poland and the Netherlands.

Background

Founded in 1989, JSC Nord-West F.C. is the leading value added fish production company in Murmansk.

They are currently involved in all stages of fish production. They acquire our raw material from over twenty independent vessels fishing in the Barents Sea. Then, they process this fish in two top-of-the-line facilities on shore. The result is over 400 types of product. For example, fresh and frozen fillets, mince, salted, breaded, or smoked fish and much more. These products are then sold through the company's well developed logistics and supply channels domestically and internationally.

The firm's products can be found all over Russia, Europe and North America: in the superstores of Moscow, in restaurants of cities like New York, Boston, London, Amsterdam, Paris as well as in packages of leading global brands. In addition, they own a chain of local fish specialty stores in Murmansk.

Quality is a core focus at Nord-West F.C. The company's plants comply with local Russian standards, HACCP standards as well as possess the European certification (EU number A 91). Moreover, they continually develop and adapt process changes that effectively improve quality beyond these standards.