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Market situation for Norwegian pelagic species (herring, mackerel...)

NORWAY
Monday, October 07, 2024, 00:10 (GMT + 9)

Weak quarter for herring

• Norway exported 35,224 tonnes of herring worth NOK 740 million in the third quarter
• The value fell by NOK 76 million, or 9 per cent, compared with the third quarter last year
• Volume fell by 20 per cent
• Poland, the Netherlands and Germany were the largest markets for herring in the third quarter

Poland had the highest value growth in the third quarter, with an increase in export value of NOK 29 million, or 15 per cent, compared with the third quarter last year.

Export volume to Poland ended at 9,706 tonnes, which is 1 per cent higher than the third quarter last year

The price of frozen herring fillets is at a record high of NOK 22 per kg. This is NOK 1 higher than the previous record quarter, which was in the second quarter of 2024.

The price of frozen whole herring is at a record high of NOK 18 per kg. This is NOK 1 higher than the previous record quarter, which was in the second quarter of 2024.

Exports of herring in September

• Norway exported 10,300 tonnes of herring worth NOK 222 million in September
• The value fell by NOK 118 million, or 35 per cent, compared with September last year
• Volume fell by 41 per cent

Strong mackerel exports

• Norway exported 90,038 tonnes of mackerel worth NOK 2.3 billion in the third quarter
• The value increased by NOK 943 million, or 68 per cent, compared to the third quarter last year
• This is a growth in volume of 43 per cent
• Japan, China and Vietnam were the largest markets for mackerel in the third quarter

China had the highest value growth in the third quarter, with an increase in export value of NOK 214 million, or 136 per cent, compared with the third quarter last year.

The export volume to China ended at 14,486 tonnes, which is 93 per cent higher than the third quarter last year.

The price of frozen whole mackerel is at a record high of NOK 26 per kg. This is NOK 2 higher than the previous record quarter, which was in the second quarter of 2024.

Good demand in South Korea and Japan

Fishing has been good recently, and most of the mackerel quota has now been taken.

"We are experiencing good demand in the most important Asian markets. A decline in their own mackerel fisheries in both South Korea and Japan has meant that their processing industries are buying Norwegian mackerel to an even greater extent," says Johan Kvalheim, the Norwegian Seafood Council's envoy to Japan and South Korea.

Exports of mackerel in September

• Norway exported 63,500 tonnes of mackerel worth NOK 1.7 billion in September
• The value increased by NOK 609 million, or 57 per cent, compared with September last year
• This is a growth in volume of 31 per cent

Source: Norwegian Seafood Council

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