Frozen market could make up for Russian shortfalls
In recent years, Norway has exported about 100,000 tonnes of salmon to Russia each year. However, after Russia introduced a ban on imports from all countries that had placed themselves in opposition to Russia's actions against Ukraine, it is essential to find new markets for this fish.
Per Vidar Ottesen, manager of the Norwegian salmon export company Norwell, admits that these are nervous times in the market.
"The tension rose dramatically in the market. It spread throughout the world market for frozen and fresh fish. All prices went down suddenly. We were quite big in Russia, so the situation is not good at all," he told Norsk Fiskeoppdrett/kyst.no.
Ottesen continued: "We are working to get higher credit limits for some of our customers in the EU market. What cannot be sold while it is still fresh, will be frozen and stored for sales later.
"We will freeze down some surplus fish. Perhaps the most important thing for us now is that the frozen market will take some of the fish that Russia took. Another factor is that Chile will put up their prices for export into Russia and channel much of its fish there, which would otherwise be frozen into other markets", in a move that would make room for frozen Norwegian salmon elsewhere.
