Norway: Decline in seafood exports in the first quarter

Norway's seafood exports in the first quarter faced a mixed landscape, with a 3% decline in overall value to NOK 40.2 billion, influenced by reduced currency effects, lower volumes of key species due to sustainability quotas, and a lack of significant price increases for salmon. Despite this, there were record exports for skrei, snow crab, and trout, and significant growth in export value to Denmark, Ukraine, and Spain. The Norwegian Seafood Council highlighted a record high for frozen cod exports to Vietnam and an increase in clipfish exports, though saithe clipfish saw a decline. Mackerel and king crab prices hit record highs due to reduced supply, with the US becoming the largest market for these crabs. Meanwhile, frozen peeled prawn exports decreased by 7%, whereas frozen cooked shell-on prawn exports surged, particularly to Denmark. The varied performance across different seafood categories reflects the complex interplay of market demands, sustainability efforts, and global trade dynamics.