Last year was weak for snow crab exports from Norway

Frozen Crab

Seafood

Norway

Market & Price Trends

Published Jan 26, 2024

Tridge summary

In 2023, the United States, the Netherlands, and Denmark were the leading markets for snow crab, despite a decrease in snow crab values due to low export prices. The US saw a significant increase in sales, accounting for 36% of the total, due to increased volumes. The Netherlands and other markets in Indonesia, Vietnam, and Bulgaria also experienced growth. However, the Danish transit market saw a 32% decline in volume.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The United States, the Netherlands and Denmark were the largest markets for snow crab in 2023. Despite the increased quota and a successful fishing season that resulted in record volumes, it was another weak year in terms of snow crab values. “Low export prices after the collapse in 2022 continued into 2023. The decline in export prices was characterized by a difficult market situation in the US, where there were large stocks and low demand, while Canada received increased quotas,” says Martha Sophie Danielsen, shellfish manager at the Norwegian Seafood Council. The average price of frozen snow crab in 2023 was NOK 101.30 per kg, a decrease of 42 percent compared to the previous year. “We have to go back to 2016 to find a lower export price for snow crab,” Danielsen says. 36% of sales came from the US, which was also the market with the highest value growth last year. This increase was NOK 65 million, or 49 percent, compared to the previous year. “The increase in value is due to ...

Source: Fishretail