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08 September 2012

Russia Saves Norwegian Fish Exports

Sharp drop in exports of fish from Norway to EU countries is offset by higher supply to other countries

During the years of economical crisis the export of Norwegian fish to many European countries dropped or even was completely terminated. However, the total volume of fish and seafood exports remained on the same level due to higher consuming by some other countries, such as Russia, China, and Brazil.
In 2010-2012 fish exports to Russia increased by 50 per cent compared with 2007-2009. According to the Norwegian Fish Committee, most markets of exported salmon shrunk, but the Russian market showed a completely opposite trend. In the first six months of 2012 Norway exported to Russia 63,000 MT of salmon against 25,000 MT in the same period last year, so even despite infamous ban for Norwegian salmon imposed by Rosselkhoznadzor, an increase of exports reached incredible 67 per cent. Thus Russia became the second largest importer of Norwegian salmon in the world with only France importing more of this valuable fish.
And although the EU is still the largest trading partner of Norway, I can not but see that its importance as an importer of Norwegian fish is diminishing. If in 2007-2009 the EU countries consumed 67 per cent of Norwegian exports, after 2010 this figure fell to 63 per cent. In my opinion, this trend is going to continue.
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