Record exports of Norwegian Cod in February

Norway's exports of groundfish including clipfish, salted fish and stockfish totalled NOK 967.4 million in February. This is an increase of 8% or NOK 69.2 million compared with February 2009, reports http://www.megafishnet.com/ with reference to NSEC.

 The volume of exports increased by 17% or 5,700 tonnes to a total of 38,555 tonnes, according to the latest figures from the Norwegian Seafood Export Council. The increases are attributable to record exports of both fresh and frozen Norwegian Cod products.

"Norwegian Cod has made a solid start to the year, setting export records in both the fresh fillet and frozen whole fish segments," says market analyst Ove Johansen from the Norwegian Seafood Export Council. "In addition and despite lower prices, exports of salted fish and clipfish have normalised in comparison with the beginning of last year. However, bear in mind that Russia has run into export problems caused by them not having the catch certification scheme introduced by the EU at the turn of the year properly in place."

Exports of Norwegian Cod clipfish were down in February by NOK 7.7 million to a total of NOK 157.5 million compared with the same month last year. On average, the price was 16% down on last year, despite the total volume of exports showing an increase of 400 tonnes or 14% to 3,300 tonnes. Portugal and Brazil are the equal largest markets for Norwegian Cod clipfish, accounting for 84% of the total export value in February.

Exports of Norwegian Saithe clipfish declined in February by NOK 32 million to a total of NOK 128.6 million compared with the same month last year. The average price was up 13% from February 2009.

Exports of salted whole Norwegian Cod totalled NOK 93.7 million in February, up by NOK 40 million or 75% on the same month last year. The volume of exports of salted whole Norwegian Cod totalled 3,200 tonnes, more than double the total of 1,530 tonnes exported in February 2009, although the price showed a decline of 17% over the same period. Portugal is the biggest market, accounting for 45% of the total value of exports in February. 

Exports of stockfish fell in February by a further NOK 11 million or 17% to a total of NOK 54.3 million, despite an upturn of 34% in the volume of exports. A greater share of exports of Norwegian Cod stockfish from Lofoten, the biggest single product, went to Nigeria this month for an extremely low price, which partly explains the steep decline in the value of exports. The price of exports to Italy, the main market, fell by 33% from February last year, further exacerbating the decline in export value.

Exports of fresh Norwegian Cod fillets totalled NOK 52.6 million in February, an increase of 25% compared with the same month last year. The volume of exports grew by 32%. Never before has the volume of exports of fresh Norwegian Cod fillets been so high for the month of February. Over the same period, prices declined by 5%.

Exports of fresh Norwegian Cod totalled NOK 53.7 million in February, up by no less than 75% or NOK 23 million on the same month last year. Even more impressive, the volume of exports was up by 130% compared with February 2009 to a total of 2,470 tonnes. In the same period, the price per kg showed an average decline of 24%. Denmark is the biggest importer of fresh Norwegian Cod in both the whole fish and fillet segments.

In February, exports of frozen whole Norwegian Cod increased by NOK 35.4 million to a total of NOK 63.9 million compared with the same month last year. In the same period, the volume of exports increased by 123% to a total of 3,669 tonnes. Never before have either the value or the volume of exports of frozen whole Norwegian Cod been so high. China is the biggest market for frozen Norwegian Cod.

Exports of frozen Norwegian Cod fillets increased in value by NOK 19.2 million compared with February 2009. The volume of exports increased by 72% to a total of 1,225 tonnes in the same period. The price of Norwegian Cod fillets fell by 3% from February last year.

Frozen fillet blocks also had a strong month, growing in value by NOK 5.1 million to a total of NOK 16.5 million and in volume by no less than 90% to a total of 551 tonnes. The markets in the UK and France, in particular, saw strong growth.

The value of exports of farmed Norwegian Cod totalled NOK 20.6 million in February, an increase of NOK 5.8 million compared with February 2009. Exports of fresh whole farmed Norwegian Cod were up in value by NOK 7.1 million to total NOK 19.6 million in February compared with the same month last year. Sweden and Denmark were the biggest importers of whole farmed Norwegian Cod.