October was the third-highest export value month for seafood in Norwegian history

LobsterPhoto: Louis Hansel / Unsplash
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Despite increasing coronavirus restrictions in Norway and many recipient countries, a great deal of seafood was exported in October.

Figures from the Norwegian Seafood Council show that the value of seafood that was exported amounted to NOK 10.4 billion in October. 

That is NOK 573 million less than in October last year, but it still amounts to this October being the month with the third-highest export value ever, the Council stated.

“The corona crisis is still affecting both Norway and the rest of the world. Nevertheless, we see that seafood exports almost reached the value from October last year, the highest export month ever,” marketing director Tom-Jørgen Gangsø in the Norwegian Seafood Council noted.

So far this year, seafood has been exported for NOK 87.2 billion. 

When it comes to salmon, 4% more salmon has been sold than at the same time last year, but the value is still 2% lower.

“Happy”

In October, the export price was NOK 48.57 per kilo, which is 6% lower than in October last year. 

There have been fewer exports to China and Israel, and due to the corona pandemic, demand for salmon in the restaurant market has fallen.

“The corona pandemic creates a challenging market situation for Norwegian seafood. 

“We must expect such a situation to persist in the coming months,” Minister of Fisheries and Seafood Odd Emil Ingebrigtsen (H) said.

“With this as a backdrop, it is gratifying that exports of salmon and a number of other species increased in October,” he added.

“Uncertainty”

The price of other fish products also fell due to the corona outbreak. 

“New austerity measures contribute to increased uncertainty about the future demand for stockfish,” marine analyst Ingrid Kristine Pettersen noted.

Ingebrigtsen believes that a good job has been done to adapt to the market conditions during the pandemic.

“The development is exciting because increased processing in Norway can contribute to further growth and value creation. 

“Maybe the pandemic can contribute to a positive shift in that way,” Ingebrigtsen concluded.

© NTB Scanpix / #Norway Today

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