Publisher: Nofima AS
Number of pages: 48
International Standard Numbers:
Open Access: green
The Norwegian fish processing industry increased its profitability in 2009. The fish meal and fish oil industry had the highest operating margins, followed by the pelagic processing industry. The clipfish industry had the biggest increase in margins, while the rest of the white fish industry suffered huge losses.
Industry profits in 2008 and 2009 was hugely affected by the sudden drop in the value of the Norwegian Kroner (NOK) in November and December 2008, and the following rise of NOK throughout 2009. The industry reported loss of 1.3 billion NOK on currency hedging in 2008. Nearly 70 % of that loss was regained in 2009.