High Herring Prices Give Record First Half-Year Exports
The value of exports of pelagic fish in the first half-year of 2011 totalled NOK 3.4 billion, an increase of NOK 573 million or 20% compared to the same period last year. In the same period, exports of herring increased in value by 17% to NOK 2.2 billion and exports of mackerel were up in value by 55% to NOK 758 million, reports www.megafishnet.com with reference to Seafood from Norway.
In June, exports of pelagic fish totalled NOK 319 million in value, an increase of 5% compared to June 2010. The June export figure was dominated by exports of matjes herring to the Netherlands.
"The good export figures in the first half-year reflect positive market demand and higher prices, particularly for herring products," says senior analyst Kristin Lien from the Norwegian Seafood Export Council. "The price increases we have seen are also a consequence of the Norwegian spring-spawning (NSS) herring quota being cut by approximately one-third compared to last year."
German market big on herring
Russia is the biggest herring export market, with exports in the first half-year valued at NOK 521 million, down by 4% compared to the same period last year. The volume of exports to Russia of frozen whole herring stood at 44,000 tonnes, while exports of frozen herring fillet products totalled 24,000 tonnes, a downturn of 35,000 tonnes and 9,000 tonnes respectively from the first half-year of 2010.
Germany is now our second biggest herring market, with exports in the first half-year valued at NOK 361 million, up by 43% compared to the same period in 2010. The volume of exports of herring fillet products to Germany totalled 28,000 tonnes, slightly down by 1,000 tonnes from the same period last year, while exports of frozen whole herring totalled 3,000 tonnes, up by 1,000 tonnes from the same period last year.
Nigeria and Ukraine share third place, with first half-year exports valued at NOK 235 and NOK 234 million respectively. For Ukraine this represents an increase of 24% and for Nigeria an increase of 23%. The average export price of herring products in the first half-year has increased by over 50%, which has consequently led to a reduction in the volume of exports to all main markets except Germany.
The volume of exports of frozen whole herring in the first half-year totalled 184,000 tonnes, down by 77,000 tonnes compared to the same period last year. In June, the volume of exports totalled 15,000 tonnes, down by 2,000 tonnes from June last year. The volume of exports of frozen herring fillet products in the first half-year totalled 85,000 tonnes, a downturn of 11,000 tonnes compared to the first half-year of 2010.
Mackerel exports plentiful in first half-year
First half-year exports of frozen whole mackerel totalled 59 000 tonnes in volume and NOK 685 million in value. This represents an increase of 16,000 tonnes/NOK 252 million compared to the same period last year. Russia continues to be the biggest market, with an export volume of 11,000 tonnes, followed by China on 9,000 tonnes and Turkey on 8,000 tonnes. In the same period, the volume of exports to South Korea more than doubled to a total of 6,000 tonnes. The volume of exports to Russia increased by 24% and to China by 42% from the same period last year. The average export price of frozen whole mackerel in the first half-year was NOK 1.56 up on the same period in 2010. The volume of exports of mackerel fillets to Sweden, Poland and South Korea has been steadily increasing and in the first half-year totalled 2,700 tonnes.
More capelin to Asia
The volume of exports of frozen whole capelin in the first half-year totalled 68,000 tonnes, some 20,000 tonnes down compared to the same period last year. The average export price was 29% up on last year, and exports have thus maintained their value from the same period last year. Japan and China together account for export volume of 26,000 tonnes, while in eastern Europe Russia was the biggest market. This year to date, exports to Japan and China are up by 7,000 tonnes, while exports to countries in eastern Europe have fallen.
NSEC Contact: Senior analyst Kristin Lien, +47 934 09 806