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All-time high for Norwegian seafood exports in October

Published Nov 8, 2024

Tridge summary

Norway experienced a record-breaking month in seafood exports in October, with mackerel driving the growth and reaching a value of NOK 2.5 billion, an increase of NOK 750 million from the previous year. Despite this, the total seafood export value for the year being unchanged in dollars or showing a 1% decrease in euros, there has been a positive trend in the markets due to economic factors in the EU and the USA. The demand for Norwegian seafood, particularly salmon, has increased, with the USA as the largest growth market for both fresh and frozen fillets. Other species such as trout, cod, and herring also experienced growth, while king crab exports fell due to lower quotas and increased competition from Russia. Overall, it was a solid month for many fish and shellfish species in the Norwegian seafood market.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

“Never before has a higher value of seafood been exported in a single month. This is primarily due to exceptionally strong mackerel exports that we have never seen before. This alone accounted for almost all the growth in value in October," says Christian Chramer, CEO of the Norwegian Seafood Council. Large export volumes and high export prices Norway exported mackerel worth NOK 2.5 billion in October. This is an increase of NOK 750 million compared with the same month last year, which was also the previous export record for mackerel. “This year, a record high proportion of mackerel from Norway was exported in October. High demand in Asia has led to increased competition and higher prices, which confirms the strong position of Norwegian mackerel. At the same time, we are aware that such a price increase will put pressure on the value chains in the markets," explains Chramer. Positive development in the markets So far this year, Norway has exported seafood worth NOK 143.1 billion. ...
Source: EuroMeat
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