Photo: Norwegian Seafood Council
Market situation for Norwegian pelagic fish (herring, mackerel, capelin...)
NORWAY
Tuesday, May 07, 2024, 07:10 (GMT + 9)
Fall in volume and value for herring
- Norway exported 9,653 tonnes of herring worth NOK 181 million in April.
- The value fell by NOK 3 million, or 2 per cent, compared to the same month last year.
- Export volume fell by 14 per cent.
- Poland, Egypt, and Lithuania were the largest markets for herring in April.
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April is not the fishing season for either Norwegian spring-spawning herring (NVG herring) or North Sea herring, so exports are affected by previous catches.
"With a 34 per cent reduction in the NVG herring quota, lower export volumes are expected. Prices are also at a high level, and a record was set for frozen NVG fillets without skin, both in Norwegian kroner and euros," says Jan Eirik Johnsen, Head of Pelagic species at the Norwegian Seafood Council.
Low supply and high demand
At NOK 20.66 per kg compared with NOK 16.87 per kg, the price is 22 per cent above the same period last year. For the same period, the price in euros was EUR 1.77 per kg compared to EUR 1.46 per kg, an increase of 21 per cent.
"In general, the picture for herring is characterized by low supply and good demand. In addition, a weak Norwegian krone results in high price levels against the most important Euro markets," says Johnsen.
Good April for mackerel
- Norway exported 8,227 tonnes of mackerel worth NOK 211 million in April.
- The value increased by NOK 43 million, or 25 per cent, compared to the same month last year.
- This is a growth in volume of 9 per cent.
- Vietnam, USA, and Japan were the largest markets for mackerel in April.
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Although exports of mackerel from Norway increased slightly in April this year compared with the same month last year, mackerel exports are well behind last year at the same time.
“With a frozen product, the time of export will vary according to customer demand and storage capacity in Norway. So far this year, 55,000 tonnes of mackerel have been exported, compared with 75,000 tonnes in the same period last year, a decrease of 27 per cent. This is because 27 per cent less mackerel has been landed so far this year than in the same period last year," says Jan Eirik Johnsen, Head of Pelagic Species with the Norwegian Seafood Council.
New price record
A new price record was set in NOK for frozen mackerel under 600 grams, which is the product that dominates exports. An average of NOK 23.41 per kg compared with NOK 20.58 per kg in the same period last year represents an increase of 14 per cent.
“The previous record was NOK 22.61 per kg in February this year. In dollar terms, we have seen higher price levels, but then we must go back to 2012," says Johnsen.
Strong month for capelin
- Norway exported 24,000 tonnes of capelin worth NOK 209 million in April.
- The value increased by NOK 158 million, or 310 per cent, compared to the same month last year.
- Volume increased by 700 per cent.
- Iceland (direct landings), China and Japan were the largest markets for Norwegian capelin in April.
This year, Norwegian boats did not fish for capelin in Icelandic waters. However, the quota for capelin in the Barents Sea increased from 37,000 tonnes last year to 117,000 tonnes.
The most important consumer markets for capelin are China and Japan.
Volume growth for capelin roe
Exports of capelin roe amounted to 217 tonnes in April, compared with 384 tonnes in the same month last year. So far this year, however, there has been a clear increase in exports of capelin roe. A total of 1,000 tonnes have been exported with a value of NOK 41 million. This is a doubling in volume from 500 tonnes.
“However, due to large quantities of Icelandic capelin roe in the markets, the price has fallen sharply from last year, so that the value so far this year is on a par with 2023," says Jan Eirik Johnsen, Head of Pelagic Species with the Norwegian Seafood Council.
Source: Norwegian Seafood Council
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