Norway exported 110 tons of king crab worth NOK 77 million in October, according to the Norwegian Seafood Council. The value increased by NOK 25 million, or 49 percent, compared to October last year. The growth of export volumes is 7 percent.
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The US, Canada and the Netherlands were the largest markets for red king crab in October. Sanctions against Russian crab in the US and the EU have increased the supply of Russian crab to Asia. “After the red king crab fishing season began in Russia in September, an increase in the supply of live king crab to Asia has led to lower prices. In the same period, the news came that there would be no quotas for king crab in Alaska for the second year in a row,” says Josephine Voraa, shellfish manager at the Norwegian Seafood Council. This affected king crab exports from Norway, which increased by 37 million, or 361 percent, to North America, while exports to Asia decreased by 4.8 million. “The most significant growth is seen in exports of frozen and live king crabs to the US, which increased by NOK 32 million, or 562 percent. The weakening of the Norwegian krone against the US dollar also had a positive impact on the value of exports in October, as prices in Norwegian krone remain high,” ...
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