Norway's seafood export value rises to historically high level in February

Seafood

Norway

Market & Price Trends

Published Mar 13, 2024

Tridge summary

Despite global challenges such as the pandemic and economic instability, Norwegian seafood exports have seen a consistent increase in value for three consecutive years, a first in history, according to the Norwegian Seafood Council. This growth is attributed to high global price growth and a weak Norwegian krone, although the value of exports has decreased when measured in euros. Europe remains the largest market for Norwegian seafood, followed by Asia and the USA. The industry has also seen a shift towards more processed products, especially salmon, and February marked a record month for cod exports despite reduced quotas.

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

“Significant increases in the value of salmon, trout, cod and snow crab pushed export values to historically high levels in February. The value of Norwegian seafood exports has now increased every month for three years, which has never happened before,” says Christian Schramer, CEO of the Norwegian Seafood Council. The last time a decrease in export value was observed was in February 2021. During each of the next 36 months, Norwegian seafood exports showed an increase in value compared to the same months the previous year. “Despite the coronavirus pandemic, the outbreak of conflict in Europe and the weakening economy during this period, Norwegian seafood was in good demand in the seafood market. In addition, the combination of high global price growth and a weak Norwegian krone contributed to three years of value growth,” explains Schramer. “The overall picture is that we are still exporting lower volumes at higher prices measured in Norwegian kroner. At the same time, the value ...

Source: Fishretail