Currency effects boost value of Norwegian seafood exports

Published May 6, 2024

Tridge summary

Norway's seafood exports in April achieved a record value of NOK 13.9 billion, a 7% increase from the previous year, driven by a weaker Norwegian krone, higher export volumes for several species, and the timing of Easter. Despite a decrease in the total value for March and April combined due to quota reductions and a fall in salmon volume, there was a record high export value for cod and skrei, with significant growth in exports to Ukraine, Spain, and China, and a notable increase in the UK's frozen cod exports. The Dominican Republic and Portugal were key markets for saithe clipfish and cod clipfish, respectively, while Italy saw the highest value growth for stockfish. However, challenges such as reduced quotas for herring and mackerel, and declines in king crab and prawn exports, were noted. The article also highlights a significant decline in the frozen, cooked shell-on prawn market, despite overall growth in prawn exports to Sweden and Denmark.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Currency effects boost value of Norwegian seafood exports Norway exported seafood worth NOK 13.9 billion in April. This is an increase of NOK 924 million, or 7 per cent, compared with the same month last year. “The value of exports has never been higher in April than this year. The growth is largely due to the Norwegian krone, which has weakened slightly against the euro and the US dollar compared with April last year. In addition, last month saw increased export volumes for several species, such as trout, saithe, haddock, snow crab and mackerel,” says Christian Chramer, CEO of the Norwegian Seafood Council. Easter effect Easter is another factor that affected seafood exports in April. While it fell in March this year, Easter fell in April last year. As a result, there were four more working days in April this year than in the same month last year. “Since we always compare the development of seafood exports with the same month in the previous year, it can have a major impact when ...
Source: Fish Focus
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