Best August ever for Norwegian seafood exports

Published Sep 5, 2024

Tridge summary

August saw a record-breaking month for Norwegian seafood exports, with a value of NOK 14.6 billion, a 5% increase from the same period last year. This growth is due to higher salmon volumes, a weaker Norwegian krone, and increased exports of trout, mackerel, and prawns. However, the market trend is uncertain due to falling import prices in several countries. Germany and Lithuania experienced the greatest growth in value. However, lower quotas have led to a decline in fresh wild cod exports, while farmed cod exports have increased. China has also increased its frozen cod imports after an import ban.

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

Original content

Best August ever for Norwegian seafood exports. Norway exported seafood worth NOK 14.6 billion in August. This is an increase of NOK 724 million, or 5 per cent, from the same month last year. “August 2024 has the highest export value ever measured in an August month,” says Christian Chramer, CEO of the Norwegian Seafood Council. Half of the total growth in value can be attributed to the currency effect. “Compared with last year, higher salmon volumes and a weaker Norwegian krone drove up the value of Norwegian seafood in August. We also see that higher volumes of trout and mackerel are contributing positively, in addition to an increase in prawn exports. At the same time, the price of salmon measured in foreign currency has fallen, while we had lower volumes of both saithe and cod,” says Chramer. “At the same time as the low exchange rate results in good export figures measured in Norwegian kroner, many seafood companies have to deal with the general increase in costs in society. ...

Source: Fish Focus