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Norway's fish exports to reach 12 bln USD in 2020: analyst

Xinhua, August 19, 2016 Adjust font size:

A leading seafood analyst predicted that the value of Norway's fish export will reach 100 billion kroners (12 billion U.S. dollars) in 2020, business newspaper DN reported on Thursday.

"Norwegian seafood has an enormous potential. We will reach 100 billion kroner in export value in 2020," said Jan Trollvik, who has been the leading seafood analyst in the Norwegian Sea Food Council for more than 20 years.

The prices of cod will go up and there will be more salmon production, Trollvik said, adding that there will probably be new record in export in 2017 as well.

In the last 10 years, new records have been set in Norwegian fish export. Other experts agreed with Trollvik and supported him in his predictions.

"I believe that 100 billion kroner in 2020 is possible if salmon production continues as it is today," said fish food analyst Kolbjorn Giskeodegaard in Nordea Markets, the international markets operation of the Nordea Bank.

"100 billion in 2020? Yes, I agree with that if the salmon market is equally stable by then and I believe it will be so," said fishery expert and Prof. Frank Asche at the University of Stavanger.

The export value of Norwegian fish has increased by approximately 10 percent per year, reaching 74.5 billion kroners last year. Norway has exported fish worth of 50 billion kroners since the beginning of 2016, which is 9 billion and 25 percent more than the same time last year.

Norwegian research organization Sintef published a report in 2013 that predicted five times higher value of Norwegian seafood by 2050.

Norwegian Minister of Fisheries Per Sandberg has ordered a new report from Sintef that would provide updated and more detailed scenario of growth opportunities for fisheries and fish farming industry. The report will be presented this autumn. (1 U.S. dollar = 8.17 Norwegian kroners) Endit