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Norwegian cod favored by Chinese processing industry with an import volume surpassed 15,000 tons

After the conflict in Ukraine, Norwegian cod exports had their highlighted moment.  
   
In the 22nd week (May 30 to June 5), Chinese import volume and import value rebounded again and hit a new record.  FOB Oslo rose to NOK 55.16/kg, up 3.4% m/m and 67% y/y (source: Norwegian Seafood Board).  
   
During one week, Norway exported 311 tonnes of frozen cod to China, with an average NOK price of 55.74/kg, up 9.2% from a week ago.  In 22 weeks last year, China imported only 193 tonnes of Norwegian cod.  So far this year, China has imported 14,954 tons of Norwegian cod, up 52% year on year, only slightly lower than the level of the EU.  
   
In the 22nd week, EU imported 505 tons of Norwegian frozen cod, down 3% m/m and 13% y/y, with FOB price at NOK 55.04/kg.  So far this year, the EU imported 17,206 tonnes of Norwegian cod, down 10% year on year.  
   
The Norwegian cod imported by China are mainly 1-2.5kg (H&G), while those imported by EU and UK have larger specifications and usually have higher prices.  
   
According to the statistics of The Norwegian Seafood Board, the price of frozen haddock has decreased. The FOB price in the 22nd week decreased by 8% to NOK 36.35/kg, and the export volume decreased to 729 tons.  
   
In the 22nd week, chilled cod exports increased by 10% month-on-month to 875 tonnes, all of which went to the EU market (616 tonnes of which were imported from Denmark).  The price increased by 3.5% month-on-month to NOK41.94/kg, while the unit price of Danish imports was NOK40.96/kg. 


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