Norway's seafood exports hit record high in August 2024

In August 2024, Norway saw a record high in seafood export turnover due to a weaker Norwegian krone, despite a record low in June same year due to falling salmon prices. The best export figures were achieved in Norwegian kroner, with increases in exports of salmon, mackerel, and shrimp. Norwegian salmon exports in August 2024 increased by 3% in volume and 4% in value compared to the same period in 2023, with Poland, the United States, and Denmark as the largest export markets. However, the global seafood market trend remains uncertain with weakening import values in some countries. Additionally, trout exports saw a significant increase, and while[/INST] cod exports remained unchanged in volume, they increased slightly in value, mainly due to farmed cod exports. Conversely, the export of wild cod decreased due to reduced quotas. Despite these increases, fresh Norwegian salmon export prices fell to a two-year low in the last week of August 2024, and it is anticipated that they will hit a bottom this month before rising in the eight weeks leading up to Christmas.