Norwegian seafood exports increased 10% in the first nine months of 2021, compared to the corresponding period last year, a record performance according to the Norwegian Seafood Council.
The value of seafood exports stood at NOK 84.7 billion (€8.51 billion) for the period, up NOK 7.9 billion (€790 million) on the previous year.
Boost In Demand
“A gradual reopening of the markets has given a boost to the demand for Norwegian seafood," commented Renate Larsen, CEO of the Norwegian Seafood Council.
"From a fall in exports at the beginning of the year, we have seen a sharp growth in the third quarter. This is our strongest quarterly result of all time, and everything is pointing towards 2021 being a record year for Norwegian seafood exports."
On a full-year basis, the all-time record for Norwegian seafood exports was achieved in 2019, when exports were valued at NOK 107.2 billion (€10.77 billion). As of the first nine months of this year, exports are now NOK 8.6 billion (€860 million) ahead of where they were in this record year.
Salmon And Mackerel The Best Performers
In terms of individual species, salmon and mackerel have contributed the most to value growth this year, with both segments enjoying a strong summer, however king crab and snow crab exports are also at record levels.
“It is gratifying that Norwegian seafood exports continue to show strong development and that the value growth is spread across a number of species and products," said Odd Emil Ingebrigtsen, Norway's Minister of Fisheries and Seafood.
"I am delighted that the seafood industry has recovered well from the corona crisis, and that there is once again a high demand for seafood in the export markets. Conditions should be conducive to further growth in exports, and I wish this entire fantastic industry good luck in the future."
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Growth In Asian Markets
According to the Norwegian Seafood Council, growth has been strongest in Asia, particularly markets such as China, South Korea and Thailand. The USA and Italy have also seen 'very good' export growth, it added.
Export growth also picked up speed as the year went on – while exports in the first quarter of the year were 2% down, in Q2 they rose by 5% and in Q3 they were up 33%.
This was also achieved despite the Norwegian krone strengthening over the course of the year, which has made Norwegian seafood more expensive to buy in the global market.
September was the strongest month for exports this year, with exports for the month valued at NOK 11.8 billion, surpassing the previous record in October 2019.
Looking ahead, the Norwegian Seafood Council's Renate Larsen said that the seafood industry is in a "strong" position at present.
"Consumers not only continue to make seafood dishes at home in their own kitchen, but more and more of them have discovered that Norwegian seafood delivers on important criteria such as sustainability and taste," she said.
"If home consumption continues to remain stable even after the restaurants have opened up, it looks promising for further export growth."
© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more Fresh Produce news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
