Tridge summary
In August 2024, Norway's seafood exports reached a record high of NOK 14.6 billion (USD 1.34 billion, EUR 1.22 billion), an increase of 5 percent from the same month in 2023, driven by a weaker Norwegian krone, higher volumes of trout and mackerel, and increased prawn exports. Despite this positive trend, following a significant drop in June 2024, the industry faces challenges such as rising costs and uncertain global market trends. Salmon exports saw a slight increase in both value and volume, making Poland, the U.S., and Denmark the largest markets. Trout exports experienced a significant boost in both value and volume, becoming the second largest species in Norwegian seafood exports. While farmed cod exports increased, wild cod exports and values decreased due to quotas. China has started importing a larger share of frozen cod from Norway, contributing to a 248 percent increase in value year over year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Norway’s seafood export value recently hit a new record high for the month of August; though, once again, currency effects were a big part of the value increase. According to data shared by the Norwegian Seafood Council (NSC), Norway exported seafood worth NOK 14.6 billion (USD 1.34 billion, EUR 1.22 billion) in August 2024, up NOK 724 million (USD 66.8 million, EUR 60.5 million), or 5 percent, from the same month of 2023. That value means it was the best August ever for Norway’s seafood exports, NSC CEO Christian Chramer said.Chramer added that as much as half of that value is due to the weaker Norwegian krone, which drove up the value of the country’s seafood. “We also see that higher volumes of trout and mackerel are contributing positively, in addition to an increase in prawn exports,” Chramer said. “At the same time, the price of salmon measured in foreign currency has fallen, while we had lower volumes of both saithe and cod.”The strong August has countered the negative ...
Source: Seafoodsource
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