Norway's herring and mackerel exports both fell in the first quarter of this year

Market & Price Trends
Published Apr 18, 2024

Tridge summary

The article highlights a notable decline in Norway's herring and mackerel fishing industry, with both catch and export volumes experiencing a downturn due to reduced quotas and surging market demand, leading to unprecedented high prices. The first quarter saw a significant drop in herring catch compared to the previous year, impacting both export volume and value. Mackerel catches also suffered from quota cuts, adversely affecting exports. Despite these setbacks, there remains a robust demand for these fish in key markets, including South Korea, Vietnam, and Japan.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The catch of herring in the first quarter was 170,000 tons, down from 96,000 tons in the same period last year. Recently, the reduced supply of herring, strong market demand and the weakness of the Norwegian krone have pushed up the price of herring. In March, Norway exported 25,400 tons of herring worth 370 million Norwegian krone, a year-on-year decrease of 3% in export volume and a decrease of 30 million Norwegian krone, a decrease of 8%. In the first quarter, Norway exported 46,895 tons of herring worth 1.1 billion Norwegian krone, a year-on-year decrease of 35% in export volume and a year-on-year decrease of 30 million Norwegian krone. .20 million NOK, a decrease of 23%. South Korea, Vietnam and Japan are the main export markets. Due to the reduction of mackerel quotas, the mackerel catch has decreased accordingly. Similar to the situation of herring, the reduced supply and strong market demand have led ...
Source: Foodmate
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