Norwegian seafood exports hit a new high in 2023, with average prices for salmon and king crab rising sharply

Market & Price Trends
Published Jan 6, 2024

Tridge summary

Norwegian seafood exports in 2023 are estimated to reach NOK 172 billion, with a 14% growth rate largely attributed to the weak Norwegian krone. Despite a 5% decrease in export volume, the value of most fish species has increased, with salmon accounting for 71% of total exports. Prices for chilled whole salmon and fresh fish fillets have also increased, offsetting the decline in external sales.
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

In 2023, Norwegian seafood exports will reach NOK 172 billion (USD 16.6 billion), an increase of NOK 20.7 billion over the previous year, a growth rate of 14%. ​ The weak Norwegian krone is one of the reasons for the growth in seafood exports. Norwegian Seafood (NSC) estimates that currency effects (in Norwegian krone) contribute as much as NOK 15 billion to the growth of seafood exports, with the remaining growth coming from prices. of rise. ​ From the perspective of export volume, the total export volume of Norwegian seafood in 2023 will reach 2.8 million tons, a decrease of 5% compared with 2022. The export volume of salmon and cod has declined, and the export volume of capture fisheries has dropped to the lowest level since 2016. ​ NSC Director Christian Chramer said: "The 20% reduction in cod quota in 2023 has led to a decrease in production; nevertheless, export values of most other fish species have increased. Mackerel production has also declined, but export values ...
Source: Foodmate
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