Farmed cod accounted for a significant portion of the growth, making up 51% of the fresh cod export value

Norway's Cod Exports Soar to Record Highs in November

NORWAY
Monday, December 08, 2025, 00:10 (GMT + 9)

Fresh Cod, Frozen Cod, and Stockfish Lead the Way in Value Growth Despite Volume Challenges

OSLO — November proved to be an exceptional month for the Norwegian cod industry, with several categories achieving record-high export values. Despite facing challenges like lower quotas and tough competition for raw materials, the total export value for various cod products, including fresh, frozen, and stockfish, showed strong performance. Seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council confirmed the positive trends.

Fresh Cod Hits All-Time Value High

Norway exported 3,163 tonnes of fresh cod in November, valued at approximately $24.34 million (NOK 246 million at an average exchange rate of 0.0989 USD/NOK for November 2025). This value represents the highest-ever export value for fresh cod in a November month, surpassing the previous record set in November 2022 by an equivalent of $6.83 million (NOK 69 million). The total value increased by an impressive 75%, or approximately $10.39 million (NOK 105 million), compared to November last year, while the volume saw a 54% growth.

• The export volume is the second highest ever for November, exceeded only in 2016.

• Denmark, the Netherlands, and Lithuania were the largest markets for fresh cod.

  

  Click on the image to enlarge it

• Farmed cod accounted for a significant portion of the growth, making up 51% of the fresh cod export value, totaling $12.36 million (NOK 125 million) from 1,686 tonnes.

• Wild fresh cod exports increased by 68% in value to $11.97 million (NOK 121 million) and 47% in volume to 1,477 tonnes.

Stockfish Achieves Record Value Despite Volume Drop

Stockfish exports reached an all-time high export value for a single month, totaling approximately $17.99 million (NOK 182 million) from 477 tons. This value increased by 12%, or approximately $1.88 million (NOK 19 million), compared to the same month last year.

• The largest markets for stockfish in November were Italy, Croatia, and the USA.

Click on the image to enlarge it

Eivind Hestvik Brækkan noted that higher export prices offset a 10% decline in volume.

• Italy, the largest market for cod stockfish, saw its export value increase by 13%, or approximately $1.29 million (NOK 13 million), despite a 7% drop in volume to 269 tons.

• Year-to-date, cod stockfish export volume to Italy has dropped 13% to 1,498 tonnes, the lowest volume ever for the first 11 months of the year, a situation attributed to lower cod quotas and high landing prices.

  

  Click on the image to enlarge it

Solid Gains for Frozen Cod and Clipfish

Frozen Cod exports experienced a solid increase, with 3,245 tonnes exported for approximately $30.47 million (NOK 308 million).

• Value increased by 82%, or approximately $13.75 million (NOK 139 million), and volume grew 57%.

• The UK, Poland, and Vietnam were the largest markets.

  

  Click on the image to enlarge it

• The export price of frozen whole cod exceeded NOK 100 for the first time, reaching $10.19 per kg (NOK 103 per kg).

• Exports to the UK were particularly strong, with a 109% volume growth to 720 tonnes. The UK has accounted for 34% of the frozen cod export value so far this year.

Clipfish exports totaled 6,562 tonnes, valued at approximately $71.61 million (NOK 724 million).

• Value increased by 6%, or approximately $4.15 million (NOK 42 million), while volume fell 13%.

  

  Click on the image to enlarge it

• Portugal, Congo-Brazzaville, and Brazil were the main markets.

• Saithe clipfish value increased 25% to $23.06 million (NOK 233 million), led by strong growth in Congo.

Salted Fish Also Shows Growth

Salted fish exports saw a 1% increase in volume, totaling 1,515 tons, and an 18% value increase to approximately $16.52 million (NOK 167 million).

• Portugal, Italy, and Greece were the largest markets.

  

  Click on the image to enlarge it

• Portugal led the value growth, with a 25% increase, or approximately $2.28 million (NOK 23 million).

• The strong demand, especially in Portugal, is due in part to EU sanctions against Russian cod and industrial demand for processing into other products.

editorial@seafood.media
www.seafood.media

Print