Best August ever for Norwegian seafood exports

Published 2024년 9월 4일

Tridge summary

In August 2024, Norway's seafood exports reached a record NOK 14.6 billion, driven by higher salmon volumes, a weaker krone, and increased exports of trout, mackerel, and prawns. Despite rising costs for seafood companies, key markets included Poland, Denmark, and the USA, with the UK showing the highest growth. Salmon and trout exports hit record highs, while fresh wild cod volumes decreased due to reduced quotas. Frozen cod exports to China surged following a US ban on Russian cod. Saithe clipfish exports grew in the Dominican Republic, while salted fish exports fell, particularly to Portugal. Mackerel exports increased significantly, especially to Asia, setting new price records. King crab exports declined due to quota cuts and competition from Russia, while snow crab and prawn exports rose sharply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Norway exported seafood worth NOK 14.6 billion in August. This is an increase of NOK 724 million, or 5 per cent, from the same month last year. "August 2024 has the highest export value ever measured in an August month," says Christian Chramer, CEO of the Norwegian Seafood Council.Half of the total growth in value can be attributed to the currency effect. “Compared with last year, higher salmon volumes and a weaker Norwegian krone drove up the value of Norwegian seafood in August. We also see that higher volumes of trout and mackerel are contributing positively, in addition to an increase in prawn exports. At the same time, the price of salmon measured in foreign currency has fallen, while we had lower volumes of both saithe and cod," says Chramer."At the same time as the low exchange rate results in good export figures measured in Norwegian kroner, many seafood companies have to deal with the general increase in costs in society. Expenses are not necessarily in ...

Source: Seafood