Norwegian seafood exports up despite Russian ban

NORWEGIAN seafood exports rose by 157 million kroners (NOK)  – or three per cent – during August despite the Russian ban on food shipments from the country.
The Moscow regime imposed sanctions, which also affect the United States and  EU  countries,  came into force on August 7th,  so it may take another month or two for the full impact to show through. Until last month, Russia was Norway’s biggest single customer  for fish of all types so the ban is almost certain to knock earnings in the months ahead.
Nevertheless,  Norway managed to export fish – both farmed and wild caught – worth NOK 4.8 billion (582-million euros or £464 million sterling) during August.
So far this year, seafood exports total NOK  42.4 billion, an increase of NOK 5.9 billion, or 16 percent, compared with the same period last year. –
The volume of exported farmed  salmon increased by 11 per cent, with the total value for the month at NOK 3.3 billion. “Despite  lower export prices, the sector to see  continued growth in the value of exports of Norwegian salmon and Norwegian seafood in total,”  said  Christian Chramer, Communications Director of the Norwegian Seafood Council. Salmon exports for the year  total NOK 28.4 billion.
Norwegian salmon and white fish exporters are now busily trying to find new markets to try to offset the Russian action. Poland and France continue to remain Norway’s largest markets for salmon.
Herring exports dropped by NOK 5-million down to NOK 147 million, but earnings from mackerel for the month increased by NOK 7-million to NOK 49-million. There was not such good news for the trawler catching sector with fresh cod exports (including fillets) down by NOK 2-million to a total of NOK 44-million. Exports of frozen cod totalled NOK 150 million. Almost all cod exports go to the EU.