Norway: Market for Cod, Salted or in Brine 2025

Market Size for Cod, Salted or in Brine in Norway

In 2022, the Norwegian market for cod, salted or in brine decreased by -16.4% to $X, falling for the sixth consecutive year after three years of growth. Over the period under review, consumption saw a perceptible contraction. Cod, salted or in brine consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Cod, Salted or in Brine in Norway

In value terms, cod, salted or in brine production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 13%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Cod, Salted or in Brine

Exports from Norway

In 2022, exports of cod, salted or in brine from Norway surged to X tons, with an increase of 24% against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 24% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, cod, salted or in brine exports soared to $X in 2022. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Portugal (X tons) was the main destination for cod, salted or in brine exports from Norway, with a 84% share of total exports. Moreover, cod, salted or in brine exports to Portugal exceeded the volume sent to the second major destination, Spain (X tons), more than tenfold. The third position in this ranking was taken by Greece (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-11.9% per year) and Greece (-3.4% per year).

In value terms, Portugal ($X) remains the key foreign market for cod, salted or in brine exports from Norway, comprising 86% of total exports. The second position in the ranking was taken by Spain ($X), with a 6.8% share of total exports. It was followed by Greece, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to Portugal amounted to +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-9.4% per year) and Greece (-2.0% per year).

Export Prices by Country

The average export price for cod, salted or in brine stood at $X per ton in 2022, jumping by 24% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cod, Salted or in Brine

Imports into Norway

In 2022, after two years of decline, there was significant growth in overseas purchases of cod, salted or in brine, when their volume increased by 6.1% to X tons. In general, imports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 4,037% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cod, salted or in brine imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed strong growth. The growth pace was the most rapid in 2016 with an increase of 2,355% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of cod, salted or in brine to Norway, accounting for a 95% share of total imports. Moreover, cod, salted or in brine imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +25.2%.

In value terms, China ($X) constituted the largest supplier of cod, salted or in brine to Norway, comprising 89% of total imports. The second position in the ranking was held by Brazil ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +22.0%.

Import Prices by Country

The average import price for cod, salted or in brine stood at $X per ton in 2022, rising by 17% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cod, salted or in brine import price decreased by -15.4% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 50% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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