Photo: Norwegian Seafood Council

Clipfish and Fresh Cod Drive Massive Norwegian Export Value in October

Strong Global Demand Pushes Prices Higher, with Fresh Cod Value up 73% and Clipfish Reaching an All-Time High of US$100.9 Million

OSLO – Norway's seafood export sector delivered exceptional results in October 2025, driven by high demand and price increases across multiple major species, according to the Norwegian Seafood Council. The export value of several key products reached record levels, despite declining quotas and raw material challenges.

Fresh Cod: High Landings Fuel 73% Value Surge

Exports of fresh cod saw significant growth, with a total of 2,626 tonnes exported, valued at NOK 202 million (approximately US$21.26 million).

• Value Growth: The total value increased by 73% (or NOK 85 million / US$8.95 million) compared to October 2024.

• Volume Growth: Volume increased by 46%.

• Largest Markets: Denmark, the Netherlands, and Poland were the primary recipients, acting largely as transit and processing hubs. Poland saw the highest value growth, with an increase of NOK 28 million (approx. US$2.95 million).

The growth was spread across both segments:

• Wild Cod: Volume rose 49% to 1,135 tonnes; value rose 79% to NOK 93 million (approx. US$9.79 million).

• Farmed Cod: Volume rose 44% to 1,491 tonnes; value rose 68% to NOK 109 million (approx. US$11.47 million). Farmed cod accounted for 54% of the fresh cod export value.

Seafood Analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council noted that higher landings were a key factor in the strong October performance.

Frozen Cod: Vietnam Dominates Amid Tariff Shifts

Frozen cod exports reached 2,960 tonnes, valued at NOK 277 million (approximately US$29.16 million). While volume fell 10%, the value increased by 10% (or NOK 26 million / US$2.74 million).

• Largest Markets: Vietnam, the UK, and China.

• Vietnam was the largest market for the second month running and saw massive growth: an increase of 411% in value (or NOK 83 million / US$8.74 million) and 287% in volume, ending at 1,182 tonnes.

Brækkan attributes this surge to processing demand, particularly in Vietnam exporting to the USA, benefiting from lower tariffs than those imposed on China. However, he warned that a recent tariff reduction announcement for China could shift future frozen cod destination markets.

Clipfish Exports Hit Record High Value

Clipfish (dried and salted fish) exports saw a record-high export value of NOK 959 million (approximately US$100.95 million), surpassing the previous record set in September 2025 by NOK 92 million (approx. US$9.68 million).

• Value Growth: Value increased by 19% (or NOK 154 million / US$16.21 million), despite a 12% drop in volume (8,463 tonnes exported).

• Largest Markets: Portugal, Brazil, and Congo-Brazzaville.

• Portugal drove the highest value growth (up 42%, or NOK 163 million / US$17.16 million).

Brækkan explained that the record value is a result of higher export prices due to lower cod quotas and difficult saithe fishing, which led to higher landing prices for the raw material.

Salted Fish and Stockfish Also Show Strength

• Salted Fish: Exports reached NOK 259 million (approx. US$27.26 million), up 53% in value. Portugal was the main driver, with value growth up 96% (or NOK 98 million / US$10.32 million).

• Stockfish: Exports saw a 28% value increase to NOK 145 million (approx. US$15.26 million). The largest market, Italy, saw a 51% value increase, with the export price for cod stockfish exceeding NOK 400 (approx. US$42.11) per kilo for the first time in a single month.

The overall trend reflects strong global willingness to pay higher prices for Norwegian seafood, despite constrained supply.

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