Demand for Norwegian frozen cod increases in China

Published Sep 12, 2024

Tridge summary

In August, the export value of frozen cod from Norway decreased by 6% compared to the same month last year, with a 24% decrease in export volume. The largest markets were China, the United Kingdom, and Latvia. Notably, exports to China saw a 248% increase in value, reaching NOK 42 million, as Chinese processors sought alternative suppliers after the US increased restrictions on Russian cod imports, including those processed in third countries like Norway. Despite the recent uptick, Norwegian export volumes to China still haven't recovered to previous levels. It is anticipated that a significant share of the imported cod is being processed and re-exported to the US.

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

Original content

Compared with the same month last year, the export value was down by NOK 13 million, or 6 percent. The export volume was down by 24 percent. China, the United Kingdom and Latvia were the largest markets for frozen cod in August. The biggest price increase in August was in China, where exports increased by NOK 42 million, or 248 percent, compared with the same month last year. The export volume to China was 884 tonnes, up 109 percent compared with the same month last year. "After the US tightened the ban on Russian cod imports to include fish processed in third countries, the Chinese processing industry had to find other suppliers of cod destined for the US market," explains Eivind Hestvik Brekkan, seafood analyst at the Norwegian Seafood Council. ...

Source: Fishretail