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NORWAY SAYS ITS MACKEREL SUPERIOR IN QUALITY TO ICELAND AND FAROE VARIETY
Published: 19 August, 2011
THE company Norway Pelagic says it does not expect disputed mackerel supplies from Iceland and the Faroe Islands to challenge its traditional markets.
Both these countries have dramatically increased their mackerel quotas to around 150,000 tons each, in defiance of opposition from the European Union and Norway which has banned their mackerel products.
Norway Pelagic, which is one of the world's largest suppliers of pelagic fish and is quoted on the Oslo Stock Exchange, said that demand for mackerel was high at the moment.
Commenting on the current Iceland-Faroes dispute it did not believe that mackerel from these two countries was of sufficient quality to challenge Norwegian caught mackerel.
The company also supplies herring to markets in both western and eastern Europe and says demand has been good which has led to a price increase of between 25 and 30 per cent this year. Much of the herring has been from stocks stored during the winter season and has been sold at better margins. Norway Pelagic said it was a very positive period for its herring business with production of both frozen herring and herring fillets was up during the period under review.
The company has reported an operating loss of around 20 million Norwegian kroners for the second quarter of its financial year compared to a loss of 43 million kroners for the same period in 2010.
Norway Pelagic also supplies large volumes of capelin to Japan and the Ukraine, which is also an important market for round herring. The new fishing season for mackerel and herring should get under way in the autumn.
Footnote: Catches of Norwegian shrimp are up by 1,000 tons so far this year with revenue also up by 30 million kroners.
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