Norwegian fish exports set to interrupt document and method $15.29 billion in 2022

Sao Paulo – 2022 was the most effective yr for Norwegian seafood exports. The nation exported 2.9 million tons price about US$15.29 billion. This quantity represents a 25% improve over 2021, which was additionally a document yr for negotiations.

“Norwegian fish exports have had a traditionally robust yr. This outcome got here at a time marked by warfare in Europe, hovering vitality costs, hovering inflation and weakening international buying energy. On account of tough and turbulent instances, we’re seeing a pointy improve in costs, which final yr led to document costs for essential species corresponding to salmon, cod, mackerel, trout, saithe and herring,” feedback Christian Kramer, CEO of Norwegian Fisheries. Council / Norwegian Seafood Council.

new milestone

“Norwegian seafood has reached one other milestone. There may be quite a lot of work behind the export worth of about 15.2 billion US {dollars}, and your complete chain should share the credit score. We’re going by way of tough instances with excessive meals costs as a result of warfare in Ukraine and the implications of the pandemic. Though the worth of exports has elevated considerably, the whole quantity has remained the identical.

The truth that exports are nonetheless doing so effectively exhibits that the seafood and fish business is ready to adapt, with good professionals working all through the chain and delivering merchandise on demand. That is excellent news for Norway and I hope that exports will develop,” says Bjornar Skjaran, Minister of Fisheries and Oceans.

Much less export quantity

The export document in worth phrases comes regardless of decrease export volumes of a number of species corresponding to salmon, herring, mackerel, cod, king crab and snow crab.

“For salmon, decrease sea temperatures negatively impacted slaughter in 2022. By way of our wild species, in 2022 a big quantity of herring was used to supply fishmeal and fish oil in Norway, whereas we had decrease quotas for cod. That is the principle rationalization for the drop in quantity,” Kramer says.

Salmon exports arrive within the US 10.1 billion

Credit score: NSC/Tom Haga

In 2022, there have been essential milestones in Norway’s fish exports. For the primary time through the yr, the nation exported greater than 10.1 billion US {dollars} monthly. As well as, for the primary time, salmon exports exceeded this determine.

“The export worth of Norwegian salmon has elevated by 14% yearly over the previous ten years. These are improbable figures and much exceed different export figures from the Norwegian continent,” says Christian Kramer.

As well as, in 2022 salmon made up the most important share of Norwegian fish exports, 70% of the whole worth. That is adopted by cod (8%), mackerel (4%), trout (3%), herring (3%) and shellfish (1%).

Norwegian seafood is a trusted international commodity, offered in 149 markets in 2022. Our salmon is cherished all around the world. The cod commerce is secure in Europe, whereas mackerel dominates Asia. Our seafood is nearly sacred in markets like Portugal and Brazil, and an increasing number of persons are being attentive to Norwegian seafood.“, des Christian Kramer.

Export worth doubled in seven years

Exports have had robust development in worth lately. In 2015, Norway exported fish price US$7.47 billion. This quantity has doubled in seven years. Christian Kramer, nonetheless, emphasizes that Norway can not take future export development as a right.

“International commerce has been hit arduous by the warfare in Ukraine, the rise in commerce obstacles and the continuing pandemic. That is occurring in parallel with the weakening of the buying energy of shoppers within the markets and elevated competitors from different nations and different sources of protein,” Kramer says.

Many issues for the fish and seafood phase

Norwegian fish and seafood producers are additionally being affected by components corresponding to rising gasoline and vitality prices, which rose final yr.

“Whereas the whole worth of Norwegian exports was a document excessive in 2022, buying and selling circumstances have been tough for a lot of producers. We have to preserve this in thoughts at a time when there may be quite a lot of deal with export data,” emphasizes the Director Basic of the Norwegian Fisheries Council.

Forex results have been smaller in 2022

The Norwegian krone has additionally weakened lately. This truth contributes to increased export costs measured in Norwegian kroner, offering a good change price impact for Norwegian fish and seafood exports and an extra improve in worth.

“Nevertheless, in 2022, the devaluation of the krone slowed down. A stronger greenback helped increase exports to the US, whereas the euro weakened barely towards the Norwegian krone. Taken collectively, for all markets, change price adjustments have carried out little to extend the worth of exports from 2021 to 2022,” says Christian Cramer.

High import markets by worth in 2022*

  1. Poland: USA$1.56 billion (+24%)
  2. Denmark: USA$1.27 billion (+22%)
  3. UNITED STATES OF AMERICA: USA$1.18 billion (+46%)
  4. France: USA$ 1.07 billion (+29%)
  5. Netherlands: US$ 949 million (+34%)
  6. United Kingdom: USA$787.8M (+27%)
  7. Spain: USA$737.3 million (+21%)
  8. China: USA$ 737.3M (+45%)
  9. Italy: USA$ 666.6 million (+30%)
  10. Portugal: USA$494.9 million (+38%)

*In comparison with 2021

Most exported species in 2022 costs*

  1. Salmon: USA$10.6 billion (+30%)
  2. The code: USA$ 1.2 billion (+25%)
  3. Mackerel: USA$636.3 million (+7%)
  4. Trout: USA$505 million (+24%)
  5. Herring: US$393.9 million (-9%)
  6. Satire: USA$ 363.6M (+44%)

*In comparison with 2021

Dynamics for the quarter 2022*

  • Three 1: USA$ 3.434 billion (+22%)
  • Three 2: USA$ 3.636 billion (+39%)
  • Three 3: USA$ 3.888 billion (+24%)
  • Three 4: USA$ 4.343 billion (+19%)

*In comparison with 2021

Progress by the billions for cod and dried salted fish

  • In 2022, Norway exported 85,174 tons of cod price US$565.6 million.
  • The rise in worth was $101 million, or 23%, in comparison with 2021.
  • Export quantity fell by 6%
  • Portugal, Brazil and Congo-Brazzaville have been the largest markets for cod in 2022.

Final yr noticed a document quantity of cod exports, up $81.3 million from the earlier document yr in 2019.

In Portugal, there was a pointy improve in worth of US$51 million, or 27%, in 2022 in comparison with the earlier yr. Exports to Portugal amounted to 23,270 tons, 5% decrease than in 2021.

Portugal is a key marketplace for Norwegian cod exports.

“Portugal is strengthening its place as crucial cod market in Norway. In worth phrases, 33% of our cod exports have been shipped to the nation in 2022. Quantitatively, about 78% of exports got here from Portugal,” says analyst Eyvind Hestvik Brekkan from the Norwegian Fisheries Council.

Brazil additionally confirmed good development in export worth final yr.” Nevertheless, there was a shift in the direction of growing exports of dried salted fish and reducing exports of cod and sailfish. Of the whole 15,000 tons of fish exported to Brazil final yr, 9,000 tons have been dry-salted saithe, and solely 3,100 tons for cod chopping,” says Brekkan.

Export of salted fish elevated in worth and quantity phrases

  • In 2022, Norway exported 28,755 tons of salted fish price US$191.9 million.
  • The quantity elevated by $71.2 million, or 59%, in comparison with 2021.
  • Export quantity elevated by 16%.
  • Portugal, Spain and Italy have been the most important salted fish markets in 2022.

Salted fish confirmed the very best proportion of worth development amongst standard merchandise in 2022. As well as, it was the one product on this class to see a rise in gross sales volumes.

The Norwegian Fisheries Council works with Norwegian fisheries and aquaculture to develop markets for Norwegian fish and seafood by way of native market analysis, market improvement and reputational threat administration.

Based mostly in Tromsø, the group has native representatives in 12 of Norway’s most essential worldwide markets. The Norwegian Fishing and Seafood Trade funds the actions of the Norwegian Fisheries Board by way of tariffs on all Norwegian fish and seafood exports.

The Norwegian Fisheries Board is a public firm owned by the Ministry of Commerce, Trade and Fisheries.

Linked

Feedback

Feedback

Leave a Comment