POST Online Media Lite Edition


Stable Norwegian seafood exports despite corona pandemic

Christian Fernsby |
Despite a very demanding year, Norway exported 2.7 million tonnes of seafood worth NOK 105.7 billion.

Article continues below

Topics: NORWEGIAN   

This is the second-highest value ever and equates to 37 million meals every day throughout the year or 25,000 meals per minute.

The total volume of seafood exports increased by 2 per cent in 2020, while the value was reduced by 1 per cent, or NOK 1.5 billion, compared with the record year of 2019.

"Even though 2020 was a very different year, much of our seafood exports have managed to defy the biggest challenges in the wake of the corona pandemic. We have seen how strong Norwegian seafood is globally and can be proud of the industry´s ability to adapt quickly here at home as well as maintaining the strong position we have with consumers worldwide", says Renate Larsen, CEO of the Norwegian Seafood Council.

"I am happy that seafood exports once again have exceeded NOK 100 billion in export value. The first time we managed this was in 2019, and that we have managed to repeat this in the corona year 2020, is fantastic", says Odd Emil Ingebrigtsen, Minister of Fisheries and Seafood (H).

A strong start to the year

2020 began well for Norwegian seafood exports, with high values and optimism for another record year, but then the corona pandemic hit markets worldwide.

"As societies started to shut down, Norwegian seafood exports lost a very important sales channel, namely the restaurant and hotel segment. There were challenges in logistics, and sales of seafood were largely moved to grocery chains, online shopping and takeaway services", says Renate Larsen, CEO of the Norwegian Seafood Council.

Despite this, the export value has remained stable in 2020.

"The picture is still nuanced. There has been a very positive development for products such as herring and mackerel, while there have been challenges and declines for clipfish and stockfish, among other things", says Renate Larsen.

Impressed with the seafood industry

Minister of Fisheries and Seafood Odd Emil Ingebrigtsen praises the Norwegian seafood industry.

"The industry deserves credit for the way they have adapted to uncertain and difficult market conditions in 2020. Throughout the year, I have been impressed by the willingness and ability to adapt throughout the industry. This has largely contributed to seafood exports doing well throughout the corona year, says Odd Emil Ingebrigtsen, Minister of Fisheries and Seafood.

Five important factors

2020 was the second-best year ever for Norwegian seafood exports. There are largely five factors that have contributed to this:

A weakened Norwegian krone

An adaptable seafood industry

Individual species such as mackerel and herring have experienced strong growth

The export value for salmon is the second highest ever. Norwegian seafood is a highly sought-after global commodity.

The relationship between aquaculture and fisheries has changed little since last year. Aquaculture contributes 70 per cent by value, and 44.9 per cent by volume.

Fisheries account for 30 per cent of total seafood exports measured in value, while in volume they account for 55.1 per cent.

Salmon is by far the largest species measured in volume and value.

"The Corona pandemic has led to increased demand for processed products for sale in the retail trade. An increasing proportion of salmon is further processed in Norway. The export value for salmon in 2020 is the second-highest that has been registered, and in terms of volume it is a record, says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council.

The value share of processed seafood products increased from 20 per cent in 2019 to 23 per cent in 2020.

"At the same time, there has been a shift in the flow of goods towards countries such as Poland, Denmark and the Netherlands, which to a large extent process salmon for resale to other markets, primarily in the EU. Some markets have received lower salmon volumes from Norway in 2020. The largest decline has been in the export value to Italy, China, Lithuania and the Hong Kong SAR, says Paul T. Aandahl.

Trout is the second major species of fish.

"There have been large fluctuations in trout exports in recent years. In terms of volume, the record was set in 2008 with just over 73,700 tonnes. In terms of value, 2020 is the second-highest after the record year of 2016", says Paul T. Aandahl, Seafood Analyst with the Norwegian Seafood Council.

Cod is the largest species in the catching sector, measured in value.

"After a fantastic start to the year, with price growth for most products, it looked like 2020 would be a promising year for cod exports. During the corona crisis, however, demand fell, which has resulted in falling prices for most products. Had it not been for the weak Norwegian krone, the fall in prices would have been significantly steeper", says Ingrid Kristine Pettersen, Seafood Analyst with the Norwegian Seafood Council.

The loss of the restaurant segment was the main reason for the declining demand.

"At the same time, we saw a growth in home consumption and increased demand for frozen products in several markets. This is probably one of the reasons why frozen fillets of cod have seen a price increase in 2020, measured both in Norwegian kroner and in euros", says Ingrid Kristine Pettersen.

Mackerel is the second largest species in the catching sector.

"With an increase in the mackerel quota of 41 per cent from 2019, it was in the cards that the export volume would increase significantly in 2020. Usually leads to a sharp increase in supply to a correspondingly sharp fall in price, but good demand in important markets such as Japan, South Korea and Taiwan caused the price drop to be a moderate 7 per cent", says Jan Eirik Johnsen, Manager for Pelagic Strategy with the Norwegian Seafood Council

"In addition to the fact that mackerel is strong in the food culture in our important Asian markets, we have in recent years seen a significant product development, increased focus on healthy food and increased sales through e-commerce, especially in South Korea. All these factors have contributed to raising the consumption of Norwegian mackerel", says Jan Eirik Johnsen.

Herring experienced strong value growth last year.

"History has shown us that herring is doing well in times of crisis, and that was also the case this time. In Germany, which is our most important herring market and where herring consumption has been declining for some time, we saw that the demand for especially canned herring jumped when the corona crisis occurred", says Jan Eirik Johnsen, Manager for Pelagic Strategy with the Norwegian Seafood Council

In total, the consumption of herring in Germany increased by 10 per cent last year. We saw the same development in the second most important herring market, Poland. The increased demand in these markets led to a shift in exports from whole frozen herring to fillets and processed products at a higher price, says Jan Eirik Johnsen.

Exports of herring roe set a solid new record in 2020. Export volume increased by 53 per cent and prices increased by 73 per cent compared with 2019. This gave an export value of NOK 430 million.

"Lack of capelin fishing and thus lack of capelin roe in the market resulted in a sharp increase in the demand for herring roe. Herring roe has become a premium product”, says Jan Eirik Johnsen.

Saithe is the second largest species in whitefish. Exports in 2020 were 99,400 tonnes, while the value was NOK 2.4 billion. Volume fell by 14 per cent, while export value fell by NOK 125 million, or 5 per cent, from 2019.

Haddock is the third most important species in whitefish. Exports of haddock in 2020 totalled 58,700 tonnes, while the value was NOK 1.6 billion. The volume fell by 2 per cent, while the value fell by NOK 143 million, or 8 per cent, from 2019.

Prawn is the largest species in shellfish.

The decline in value in 2020 has primarily been driven by lower demand in the main European markets.

"The impact of closed restaurants has mostly impacted frozen peeled prawn, which makes up 79 percent of the export value. Increased sales of frozen peeled prawn in the retail trade have not managed to cover the loss of the restaurant and canteen segment", says Josefine Voraa, Manager for Shellfish with the Norwegian Seafood Council.

In 2019, the United Kingdom was the second-largest export market for Norwegian prawn. In 2020, prawn exports were halved in both value and volume.

"This is largely due to the corona crisis and uncertainty associated with Brexit. To the largest prawn market Sweden, which accounts for 36 per cent of the export value, exports in 2020 are in line with 2019. Also, lower demand has led to lower prices, reduced prawn catches in Norway and fewer exports of industrial prawn for processing in other markets", says Josefine Voraa.

King crab is the second largest species in shellfish.

Strong demand growth this autumn combined with a weak krone measured against the dollar and adaptable Norwegian players has led to the export value of red king crab being the highest ever.

"Challenging logistics at the start of the corona crisis and closed restaurants put a damper on exports of red king crab in the first half of the year, with a decrease in value of 20 per cent, or NOK 52 million, compared to 2019", says manager for shellfish in the Norwegian Seafood Council, Josefine Voraa.

When the logistics challenges were resolved, there was strong growth in exports of red king crab in the second half of the year, with an increase in the export value of 21 per cent, or NOK 80 million.

"Measured in dollars, prices have been relatively stable in 2020. For live red king crab, there has been an increase in export value of NOK 63 million, which has been driven by volume growth in markets such as Vietnam, Hong Kong SAR and South Korea. This autumn, we also experienced strong growth in demand for frozen red king crab in the USA, France and Japan", says Josefine Voraa.

Snow crab is the third largest shellfish species.

"Snow crab exports have had a very exciting development in 2020, with increased prices and increased sales of snow crab in the retail trade in the USA and China, says Josefine Voraa, Manager for Shellfish with the Norwegian Seafood Council.

Norwegian seafood producers exported 1.7 million tonnes of seafood to the EU totalling NOK 69 billion. This is 2 per cent up in volume, while the value fell by NOK 1.5 billion, or 1 per cent, compared with 2019.

In 2020, 504,000 tonnes of seafood worth NOK 19.8 billion were exported to Asia. This is a decrease in volume of 5 per cent, while the value fell by NOK 2 billion, or 10 per cent, compared with 2019.

Export volume to Eastern Europe amounted to 141,000 tonnes, while the total export value ended at NOK 3.5 billion. This is a decrease in volume of 3 per cent, while the value fell by NOK 221 million, or 6 per cent, compared with 2019.

Poland is the largest market measured in export value. 271,000 tonnes of seafood worth NOK 11.6 billion were exported. This is an increase of 2 per cent in volume and an increase of NOK 968 million, or 9 per cent, compared with 2019.

Denmark is the second-largest market for Norwegian seafood, measured in export value. Norway exported seafood worth NOK 9.7 billion to Denmark in 2020. This is an increase of NOK 497 million, or 5 per cent, compared with 2019.

Measured in value, these are the 10 largest individual countries to which Norway exported seafood in 2020: Poland, Denmark, France, the USA, the United Kingdom, the Netherlands, Spain, Japan, Italy and China.

What to read next

Norwegian salmon export value hits record high
Best half-year ever for Norwegian seafood exports
Weak Norwegian kroner leads to best ever first half year for seafood exports

U.S. obtains warrant for seizure of plane of sanctioned Russian oligarch Andrei Skoch

The United States of America has been authorized to seize an Airbus A319-100 owned and controlled by sanctioned Russian oligarch Andrei Skoch, pursuant to a seizure warrant from the U.S. District Court for the Southern District of New York, which found that the airplane is subject to seizure and forfeiture based on probable cause of violation of the federal anti-money laundering laws.


City of Chicago to buy 100% renewable power by 2025
Germany records first case of monkeypox in child
Namibia lifts restrictive measures after controlling H5N1 avian influenza
Lenovo Q1 net income grew 11%


U.S. obtains warrant for seizure of plane of sanctioned Russian oligarch Andrei Skoch

U.S.: Dangerous heat in northeast and northwest
UK Met Office issued Amber Extreme heat warning, health agency Level 3 Heat Health Alert
Germany’s largest crematorium works around the clock to save on gas consumption
About 700 firefighters putting out wildfires in Yakutia, Russia
Heavy downpours in Seoul: At least 7 dead, retail sector hit


Harris County Attorney Menefee announces EPA investigation into Texas concrete plant permitting

Biden signs bill to boost U.S. chips, compete with China
Azerbaijan's gas supplies to Europe up by 24 percent
Ukraine has 12 bcm of gas in underground storage facilities
MENA bus and coach market to reach $4.47 billion
Italy reduces LNG imports due to terminal closure, Gazprom transit request via Ukraine at 41.8 mcm

Trending Now

Micromanaging is the worst enemy of efficiency and teamwork

Cape Town and Dubai battle over Africa's energy future

Oil discovery in Kavango Basin may mean huge benefits for Namibians

Niger set to monetize massive gas reserves through Saharan natural gas pipeline


Commission approves Italian scheme under RRF to support biomethane production

Commission approves €149 million Romanian scheme under RRF to support renewable hydrogen production
Prisoners in UK to be upskilled in cutting-edge farming techniques
Agriculture Ministry: Firewood production remains sustainable in Hungary
Lithuanian FM: Russia should find way to pay for Kaliningrad transit by itself
Program to support students impacted by pandemic, fulfill critical workforce need in Georgia

Today We Recommend

Azerbaijan's gas supplies to Europe up by 24 percent


Whirlpool acquires InSinkErator for $3 billion

Devon Energy to buy Validus for $1.8 billion

Munich Re Q2 profit €768m


HEICO subsidiary acquires RF and microwave switch maker Charter Engineering

Papa Murphy's parent acquires Famous Dave's parent for $200 million
Imspex Diagnostics' BreathSpec instrument receives CE Mark for COVID-19 testing
German Eukalin acquires Adhesives Specialists from Pennsylvania
UPS acquires Italian health care provider Bomi Group
Whirlpool acquires InSinkErator for $3 billion


Island Pacific appoints Herman Chiu as CFO

Horizon Bancorp appoints Thomas M. Prame as president
Encora appoints Deepak Bhandari as EVP, head of corporate development
Firmenich: Maurizio Clementi interim president of taste and beyond division
Joyce Farms appoints two new leaders
Shore Bancshares appoints Esther A. Streete as director


German economy to lose $265 billion in added value

Czech Republic reports $500mln trade deficit in June
Philippine GDP grows 7.4 percent on year in Q2
Georgia's July net tax revenues up 2.5%
Conference Board Employment Trends Index decreased in July
China's foreign trade of goods up 10.4% in first seven months


Legal & General H1 profit £1,160m

Munich Re Q2 profit €768m
TreeHouse Foods Q2 net sales increased 19.4%
AgriBank Q2 net income remains strong
Tyson Foods Q3 GAAP EPS $2.07
Hawaiian Electric Industries net income $52.5 million


Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?


Tanzania signs 21 irrigation scheme contracts for over 26,000 ha of land

Australia: Be on guard for foot-and-mouth scam emails seeking your confidential information
Saudi Arabia allows imports of fruits and vegetables from Serbia
Brazil's fish exports double in H1
Vietnam: Agro-forestry and fishery exports in July 2022 estimated at 4.76 billion USD
Government of Canada invests in improving animal welfare


If company overcomes post-IPO innovation slump, it will survive longer

62% of consumers will stop buying from brands that compromise products to cut costs
Companies must invest to avoid supply chain scandal or pay the price in lost consumers
How awards, recognition decrease inventors' creativity
Keeping employees is harder than ever. And we don't have good news
How much is 'great resignation' costing companies?


PwC fined $2 million over BT audit after fraud discovered in Italy

Guardia di Financa finds unregistered foreign company operating in e-commerce
Iowa AG sues tobacco companies over $133 million in withheld payments
AG Bonta announces $15.5 million judgment against Rent-A-Center
Illinois AG Raoul announces agreement with former opioid maker Allergan
AG Shapiro secures preliminary agreement with Teva for $4.25 billion



Avani Chaweng Samui Hotel & Beach Club opens in Thailand

Buffalo Bill is coming to Manitowoc with his Wild West show
Pullman Doha West Bay Hotel opens in Qatar
DoubleTree by Hilton hotel opens in Malaysia
Great Dorset Chilli Festival, the hottest festival in UK
Selina Serenity Rawai Phuket Hotel opens in Thailand


Porsche unveils newest generation of 911 GT3 R

2023 Subaru Crosstrek sells like hotcakes
New Mercedes‑Benz GLC, at home on any terrain
GMC unleashes new 2023 Sierra 1500 AT4X AEV Edition
First BMW M3 Touring presented
Southern Wind Power of 2, just for you and ocean ahead


Nobody's Child, everybody's favorite

Freddy WR.UP, pants that hug you in all the right places
Stylishly luxurious house design
Great design ideas that might not work for you
Garden mirrors, explore new views of your garden
Unusual and highly functional lamps


Shure MV7 professional dynamic microphone now available in new limited-edition color

Forget streaming services, use McIntosh MR89 to enjoy AM/FM music
Infinix NOTE 12 PRO, first smartphone powered by MediaTek Helio G99
MW75 active noise-cancelling headphones, variety of new features
Parasound JC 1+ mono power amplifier by John Curl, pure delight
Cambridge Audio SX80, stylish loudspeakers for any room


Denmark to offer monkeypox vaccine to gay men

Guatemala confirms first case of monkeypox
First monkeypox case identified in Moldova
At least 12 deaths reported in cholera outbreak in Afghanistan's Jawzjan
Batten disease, a group of fatal genetic disorders
German government supports development of nasal COVID-19 vaccine


Drought increases toxic microbe-laden dust landing in Sierras

Ancient source of oxygen for life hidden deep in Earth's crust
Length of Earth's days has been increasing, scientists don't know why
South Korea launches first lunar orbiter
Bantu speakers crossed through Central African Rainforest 4,000 years ago, changed everything
Webb telescope captures colorful Cartwheel Galaxy