New export records and large cost increases for Norwegian seafood

Published 2022년 9월 19일

Tridge summary

Norwegian seafood exports have experienced a 29% increase in value, reaching NOK 94 billion in the first eight months of 2022, driven by high salmon volumes and prices. Despite challenges such as inflation, logistic issues, and increased production costs, demand for Norwegian seafood remains strong, with records set in August for salmon, pollock, trout, haddock, and whitefish. The Polish market saw the largest growth, and while the volume of landings for fresh cod and rockfish has decreased, prices have hit record highs. Salted fish exports to Canada have also increased by 80%, and while herring consumption in Germany has fluctuated, it is on the rise again due to increased food and energy prices. Prawn fishing in the Barents Sea has led to increased exports of frozen prawns to Iceland, and there has been growth in the export price for live and frozen king crab.

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

Original content

So far this year, the export value of Norwegian seafood has grown by NOK 21.2 billion, or 29 per cent, to a total value of NOK 94 billion, compared to the first eight months of 2021. Salmon is the export driver "It is the particularly high volumes and prices for salmon that are driving export records in August. This is the best single month of all time for salmon measured in value, while there is an August record for pollock, trout, haddock and the entire whitefish category", says Borge Gronbech, acting CEO of the Norwegian Seafood Council,. Demanding times "At the same time, we are in a period of high inflation, lower purchasing power, challenging logistics and increased production costs. In addition, a strengthening of the krone against the euro, as we have seen in August, is a challenging factor for exporters. This means that we are still in challenging times in which to conduct global trade", emphasizes Gronbech. Domestic consumption of seafood falling Compared to last year, ...

Source: EuroMeat