Historically high Norwegian seafood exports in May

In May, Norway experienced a significant surge in seafood exports, with a 49% increase compared to the same period last year, reaching a value of NOK 12.4 billion, the second highest ever recorded in a single month. This growth is primarily due to increased export prices for various species including salmon, trout, cod, saithe, haddock, herring, and clip fish. The war in Ukraine and global food inflation have contributed to the higher prices and limited supply of fish. Despite these challenges, the Norwegian seafood industry faces rising production costs and uncertainty in future demand. Salmon and trout exports experienced notable growth, with trout export prices surpassing NOK 100 per kg for the first time in a single month. There was also a notable increase in herring exports, particularly to Egypt, Poland, and Lithuania. However, mackerel exports saw a decrease due to the low season between fishing seasons. Additionally, there was a decline in king crab and snow crab exports, despite increased demand in Spain and Turkey. Prawn exports experienced a 49% increase, with industrial prawn exports to Iceland seeing the largest growth. Overall, it was the best May for seafood exports in the past 14 years.