Snow crab exports from Norway set a record in the first quarter

Published 2024년 4월 19일

Tridge summary

Norwegian snow crab exports have seen a significant surge in the first quarter, setting a new record with a 68 percent increase in value and a 59 percent rise in sales volume compared to the same period last year. The United States, Denmark, and the Netherlands emerged as the top markets for these exports. This growth is attributed to higher catch and export volumes, despite the low prices historically associated with snow crab. The fishing season, which ended on March 19, was shorter this year, yet the quota was raised from 7,117 to 9,753 tonnes. In March alone, Norway exported 1,800 tons of snow crab, valued at NOK 200 million, marking a 37 percent increase in value and a 26 percent increase in sales volume over the previous March.

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

Original content

Compared to the first quarter of last year, the value increased by NOK 200 million, or 68 percent. Sales volume increased by 59%. In the first quarter, the largest markets for snow crab were the United States, Denmark and the Netherlands. This is a record high snow crab export value in a single quarter, which is NOK 73 million more than the previous record quarter, which was in the second quarter of 2021. Increased catch and export volumes “The record figure is primarily due to an increase in both catch volumes and exports. As of March 19, snow crab fishing was stopped. Never before has the fishing season been so short. When the quota was also increased this year from 7,117 to 9,753 tonnes, a record high volume was exported in the first quarter,” says Martha Sophie Danielsen from the Norwegian Seafood Council. Historically low prices In February and March, the average price of frozen snow crab also increased by NOK 7.25 per kilogram, or 7 percent. “This is a positive development, ...

Source: Fishretail