Yet another record year for whitefish exports

cod quotasCod. Photo. pixabay.com

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Norway exported cod, saithe, haddock and other whitefish worth NOK 15 billion in 2017. This is an increase of 8 per cent, or NOK 1.1 billion, from 2016.

 

Norway exported cod, saithe, haddock and other whitefish worth NOK 15 billion in 2017. This is an increase of 8 per cent, or NOK 1.1 billion, from 2016.

The Norwegian whitefish industry set a new export record in 2017, for the fourth year in a row. The increase has primarily come from an increased catch and increased export volume. Increased volume, especially of saithe, has led to somewhat lower export prices, but we have seen a positive price trend on both haddock and cod.

– The cod quotas have remained stable, while the quotas on saithe increased a great deal in 2017, which is very likely the main explanation for reduced prices on saithe. A weakened Norwegian krone in 2017 has probably also contributed a little to the increase in value in 2017, while at the same time we see that a weak pound has had consequences in the form of reduced exports to the United Kingdom, says Ingrid Kristine Pettersen, Analyst at the Norwegian Seafood Council.

– The quotas on cod and haddock have been reduced in 2018, and there will be major competition for the raw material, which probably will lead to a price increase this year, Pettersen adds.

 

Source: seafood.no / Norway Today

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