Photo: Norwegian Seafood Council

Market situation for Norwegian herring and mackerel

NORWAY
Friday, September 06, 2024, 00:10 (GMT + 9)

Increased competition for herring - and record prices

• Norway exported 14,160 tonnes of herring worth NOK 307 million in August
• The value increased by NOK 9 million, or 3 per cent, compared with the same month last year.
• Volume fell by 9 per cent
• Poland, Germany and the Netherlands were the largest markets for herring in August

Herring exports in August were characterised by a trend of less and less whole frozen herring. 1,600 tonnes of whole frozen herring were exported in August this year, compared with 3,000 tonnes in August last year.

"Lower quotas and better economics in the production of fillets mean that the proportion of frozen whole herring is falling. At the same time, this creates increased competition for the volume that is exported, and a new price record was set in August in both Norwegian kroner and euros, with NOK 14.58 per kg and EUR 1.24 per kg respectively," says Jan Eirik Johnsen, Head of Pelagic Species at the Norwegian Seafood Council.

"It is gratifying to see that exports of prepared and preserved herring are increasing, after exports have been hit hard by the lack of implementation of new negotiated tariffs from the EU," continues Jan Eirik Johnsen.

Although there was an increase in August compared with the same month last year, exports of these important herring products are far behind what is normal so far into the year.

“During the first eight months of the year, 5,800 tonnes of prepared and preserved herring were exported, compared with 10,150 tonnes in the same period last year. The value decreased from NOK 236 million to NOK 142 million. "As these are key products for individual companies, these are dramatic figures," explains Jan Eirik Johnsen.

Norwegian exports of pelagic fish per month measured in value

Norwegian exports of pelagic fish per month measured in quantity

Increased mackerel landings bring growth to key Asian markets

• Norway exported 17,367 tonnes of mackerel worth NOK 435 million in August
• The value increased by NOK 265 million, or 155 per cent, compared with the same month last year.
• This is a growth in volume of 122 per cent
• Vietnam, China and Japan were the largest markets for mackerel in August

The start of the mackerel season three weeks earlier and great efforts by Norwegian fishermen have resulted in 53,000 tonnes of mackerel being landed in August this year compared with 24,000 tonnes last year. This is reflected in increased exports, especially to the important Asian markets. Last year, 44 per cent of mackerel exports went to Asia in August, compared with 60 per cent in August this year.

“A new price record has also been set for frozen mackerel under 600 grams, with an average of NOK 24.25 per kg, compared with the previous record of NOK 23.33 per kg set in April," says Jan Eirik Johnsen, Head of Pelagic Species.

Source: Norwegian Seafood Council

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