Norwegian frozen cod exports will surge in the beginning of 2024, with the Chinese market becoming dominant

Published 2024년 1월 19일

Tridge summary

In the second week of 2024, Norwegian frozen Atlantic cod exports reached 2,380 tonnes, the highest level since early 2022, but the export price has declined due to large-scale export. A total of 1,612 tons of frozen Atlantic cod have been exported to China in 2024, a year-on-year increase of 52%, accounting for 48% of Norway’s total exports of frozen Atlantic cod year-to-date, possibly due to Chinese seafood processors seeking alternatives to Russian-origin cod after the U.S. government banned Russian seafood from entering the U.S. market last year. Despite the surge in sales, the average export price of Norwegian frozen Atlantic cod is relatively low, with average export prices to China and the EU lower than the same period in 2023.

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

Original content

According to the latest weekly export data from the Norwegian Seafood Council (NSC) for the second week of 2024 (January 8-14), frozen Atlantic cod (customs codes 03036301 and 03036303, mainly head and gut removal, i.e. H&G) Exports reached a staggering 2,380 tonnes during the week, the highest level since early 2022. At the same time, the export price of Norwegian frozen Atlantic cod has also declined due to large-scale export. As of the beginning of the year, the average price was 43.63 Norwegian kroner (about 5.25 US dollars, equivalent to about 33.87 yuan) per kilogram, a decrease of 15% from the same period last year. However, since the Norwegian krone has depreciated during this period, the average price in the second week of 2024 in terms of euros is actually back to the same level as in 2022 and 2019. The most eye-catching thing is that so far, 1,612 tons of frozen Atlantic cod have been exported to China in 2024, a year-on-year increase of 52%, accounting for ...

Source: Foodmate