Low salmon prices in June caused a historic drop in Norway’s seafood export value

Published Jul 4, 2024

Tridge summary

Norway's seafood export value experienced a historic decline in June 2024, with a 18% drop to NOK 12.1 billion (USD 1.14 billion), primarily due to a significant decrease in salmon prices. This decline contributed to a 2% drop in the country's total seafood export value in the first half of 2024, totaling NOK 80.6 billion (USD 7.6 billion). Despite this setback, the first half of the year remained strong for Norway's seafood exports, with high prices for cod and salmon offsetting the value drop in June. The volume of salmon exports also saw a 4% decrease, while trout exports saw an increase in both volume and value, with a notable rise in exports to Ukraine.

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

Original content

A big drop in Norway’s seafood export value in June resulted in the country posting a decreased seafood export value for the first half of 2023. Data presented by the Norwegian Seafood Council (NSC) reveals that Norway had a “historic” drop in seafood export value in June. Based on export numbers, the country’s export value in June 2024 dropped to NOK 12.1 billion (USD 1.14 billion, EUR 1.06 billion), a drop of 18 percent, or NOK 2.7 billion (USD 256 million, EUR 237 million), compared to the same month in 2023. That drop, the NSC said, is the largest single-month drop in seafood export value in history. The drop in value in June is largely to blame for a drop in seafood export value for all of H1 2024, with the country exporting seafood worth NOK 80.6 billion (USD 7.6 billion, EUR 7.1 billion), marking a 2 percent, or NOK 1.6 billion (USD 151 million, EUR 140 million), drop compared to the same period in 2023. Despite the drop, NSC CEO Christian Chramer said the first half of ...

Source: Seafoodsource