Currency effects resulted in value growth for seafood exports of Norway in April

Published 2023년 5월 4일

Tridge summary

In April, Norway saw a significant increase in seafood exports, with a value of NOK 12.9 billion, despite a decrease in volume to 160,000 tonnes, the lowest since 2007. This increase is primarily due to a currency effect, with the weak Norwegian krone driving up values. Aquaculture products, including salmon, trout, and cod, accounted for 78% of the total export value. The United States, Denmark, and China were the markets with the greatest value growth, with salmon being the key driver. However, there was a fall in the volume for trout, herring, and snow crab, despite an increase in value for some markets like Ukraine and Spain. Prawn exports also saw significant growth, with a 30% increase in volume. Despite the challenges such as logistical issues and reduced capacity in China, the demand in Asian markets remains strong, with record high prices in local currency.

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

Original content

Norway exported NOK 12.9 billion worth of seafood in April. This is an increase of NOK 1.6 billion, or 14 per cent, compared to the same month last year.“For Norway as a seafood nation, it is positive that the value of export products continues to increase, but the growth in April is solely due to a currency effect. Measured in euros, the export value fell by more than 5 per cent and in dollars by 3.7 per cent. The weak Norwegian krone that is driving the value up”, says Christian Chramer, CEO of the Norwegian Seafood Council. Lowest export volume since 2007In April, 160,000 tones of seafood were exported from Norway. This is the lowest April export volume since 2007, when exports totalled 125,000 tonnes. “The downward trend with falling volumes also continued in April. Among other things, this applied to trout, grayling, and several whitefish species, while the volume for salmon is at a standstill compared to the same month last year”, explains Christian Chramer.Value growth to ...

Source: Seafood