Britain leading way as Norwegian seafood exports return to value growth

NORWEGIAN seafood exports to Britain last month, including salmon, showed the highest increase in value, the Norwegian Seafood Council reports today.

Overall the July seafood exports were worth NOK 13 billion (around £900,000) which was 6% higher on  the same month  last year, mainly due to  a continuing decline in the value of the krone.

Seafood Council managing director Christian Chramer said: “The reason behind the increase in the export value for July is a weakened Norwegian krone against both the euro and the dollar.

“We see that a fairly sharp price drop for salmon was compensated by an increase in volume, and in the end it is the currency that gives value increase.”

But Britain had the greatest increase in value, with an increase in export value of NOK 381 million (£26m) , or 64% compared to the same month last year.

The export volume to the UK ended at 19,092 tonnes, which is 117% higher than the same month last year

Victoria Braathen, the Seafood Council’s UK envoy said: “ A large increase in July harmonises well with total exports to Great Britain so far this year, which show a value increase of 8% in Norwegian kroner and a volume increase of 12%.

Beyond a positive development for salmon and trout, the other growth is mainly due to the export of fishmeal and fish oil.”

She added: “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 for the market in July.”

The continuing devaluation of the krone led to a return of an increase in the value of salmon.

Norway exported 107,442 tonnes of salmon during July to a value of NOK 9.6 billion (£675,000) in July –  a 3% rise in value and a 13% increase in volume. Poland, the Netherlands and the United States were the main markets for salmon.

Seafood Council analyst Paul T. Aandahl said: “ Despite the drop in prices, the export value to several of the major markets is increasing.”

Germany had the largest increase in value in July, with an increase in export value of NOK 142 million (£10m) , or 46%.

The increase in the popularity of farmed trout continues with the July value increasing by 36% to NOK 698 million (£49m) and the volume up by 38% to just over 8,000 tonnes.