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among industry insiders about Indonesia's burgeoning whitefish processing industry.
Exports to Indonesia were zero last year, while exports of frozen cod to Indonesia increased the most in November, rising to NOK 9 million (EUR 870,021 / USD 919,061),
according to the Norwegian Seafood Council (NSC).
Although November exports were still relatively small at 184 tonnes, Norway exported a total of 450 tonnes of frozen whole cod
to Indonesia in the past three months.
according to the Norwegian Seafood Council (NSC).
Although November exports were still relatively small at 184 tonnes, Norway exported a total of 450 tonnes of frozen whole cod
to Indonesia in the past three months.
NSC seafood analyst Eivind Hestvik Braekkan said Norway last exported cod to Indonesia in October 2021, when exports were only 26 tonnes
.
.
"The growth in Indonesia is really interesting
.
Looking at Norway's export statistics, we see an increase in exports of both frozen cod (+1,410%) and frozen haddock (+116%) from Norway to Indonesia," said
Egeness, chief seafood analyst at Finn-Arne Nordea Markets.
.
Looking at Norway's export statistics, we see an increase in exports of both frozen cod (+1,410%) and frozen haddock (+116%) from Norway to Indonesia," said
Egeness, chief seafood analyst at Finn-Arne Nordea Markets.
"It stands to reason that the increase is due to Indonesia's processing re-exports
to Europe and the United States.
" Indonesia and Vietnam are growth markets for Norwegian frozen bottom fish due to China's anti-epidemic policies and the lack of production capacity in Eastern Europe, Egeness said
.
to Europe and the United States.
" Indonesia and Vietnam are growth markets for Norwegian frozen bottom fish due to China's anti-epidemic policies and the lack of production capacity in Eastern Europe, Egeness said
.
"In conclusion, the growth in exports to Indonesia can be explained by the lack of production capacity
in the existing processing markets (Eastern Europe and China).
" He said
.
For the past decade or so, there has been a debate about whether China should continue as a value-added market
for frozen Norwegian bottom fish.
"China will always be there, but there is reason to believe that Indonesia and Vietnam will process more Norwegian bottom fish in the future," Egeness said
.
in the existing processing markets (Eastern Europe and China).
" He said
.
For the past decade or so, there has been a debate about whether China should continue as a value-added market
for frozen Norwegian bottom fish.
"China will always be there, but there is reason to believe that Indonesia and Vietnam will process more Norwegian bottom fish in the future," Egeness said
.
There has long been debate over whether to rely on China as a processing hub for whitefish, which has become more apparent
in recent years given the challenges the coronavirus has brought to global supply chains.
in recent years given the challenges the coronavirus has brought to global supply chains.
Asian countries such as Vietnam and Indonesia are often seen as potential alternative processing hubs, and Danish whitefish giant Espersen opened its own factory
in Vietnam in 2010.
Recent data from Norway, at least for Indonesia, suggest that this could also gain momentum
.
In addition, the Norwegian Food Authority (Mattilsynet) signed an agreement with Indonesia in October that will make it easier to export seafood from Norway to Indonesia, which may also have played a role, Egeness said
.
in Vietnam in 2010.
Recent data from Norway, at least for Indonesia, suggest that this could also gain momentum
.
In addition, the Norwegian Food Authority (Mattilsynet) signed an agreement with Indonesia in October that will make it easier to export seafood from Norway to Indonesia, which may also have played a role, Egeness said
.
"Looking at exports in November, the agreement could have a positive impact on trade between the two countries," he said
.
.
Overall, Norwegian frozen cod exports declined
in November after months of growth.
Norway exported 4,024 tonnes of frozen cod worth NOK 234 million (€22.
6 million/US$23.
9 million) in November, down 50% in volume and 33%
in value.
"Looking at the 'decline' in Norwegian frozen cod exports, this is due to a decrease in frozen cod landings on Norwegian vessels in August, September and October 2022 compared to 2021 compared to 2021," Egeness said
.
in November after months of growth.
Norway exported 4,024 tonnes of frozen cod worth NOK 234 million (€22.
6 million/US$23.
9 million) in November, down 50% in volume and 33%
in value.
"Looking at the 'decline' in Norwegian frozen cod exports, this is due to a decrease in frozen cod landings on Norwegian vessels in August, September and October 2022 compared to 2021 compared to 2021," Egeness said
.
In addition, the rise in cod prices and the increase in the cost of living for European consumers have also brought some uncertainty
to future price developments.
"However, we believe that a reduction in cod quotas next year will keep prices at today's level or slightly higher," he said
.
In October, Norwegian and Russian officials cut cod quotas in the shared waters of the Barents Sea by 20% in 2023
.
The move means quotas for one of the world's most important whitefish fisheries will be at its lowest level
since 2009.
to future price developments.
"However, we believe that a reduction in cod quotas next year will keep prices at today's level or slightly higher," he said
.
In October, Norwegian and Russian officials cut cod quotas in the shared waters of the Barents Sea by 20% in 2023
.
The move means quotas for one of the world's most important whitefish fisheries will be at its lowest level
since 2009.
This year's cod quota has already been cut by 20% to 708,480 tonnes, and the latest cuts could put further pressure
on soaring whitefish prices.
on soaring whitefish prices.