New
Transform your trade strategies with Market Brief, Tridge’s AI-powered market insights.

Norwegian seafood exports in May worth NOK 13.1 billion

Published Jun 5, 2023

Tridge summary

In May, Norwegian seafood exports experienced a growth of 7% compared to the same period in 2022, reaching a value of NOK 13.1 billion, driven by a currency effect due to the weak Norwegian krone. Despite this, there was an 8% decrease in export value when measured in euros, and a 5% decrease when measured in dollars. The shift in export markets has seen Asia and North America taking a larger share, with Europe still being the largest destination. The demand for salmon, especially in China, has been strong, while there has been a decline in the export value and volume for prawn, attributed to a decrease in exports to Iceland. Additionally, there has been a fall in export volume for various fish species, including cod, herring, trout, pollock, salmon, and snow crab, while mackerel and haddock saw an increase in volume.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Norwegian Seafood Exports in May Worth NOK 13.1 Billion. This is an increase of NOK 816 million, or 7 per cent, compared to the same month in 2022. “As in April, we also see a significant currency effect in May. The weak Norwegian krone alone contributed to an increase in export value of around NOK 1.5 billion last month. Without this currency development, there would have been a decline in export value. The market situation has now become more demanding”, says Christian Chramer, CEO of the Norwegian Seafood Council. When measured in euros, export value fell by 8 per cent in May, while measured in dollars it fell by 5 per cent, compared to the same month last year. Increase in value due to currency effect and food inflation “The re-opening after the corona pandemic and subsequent high inflation all over the world have contributed to raising global food prices in the past year. Together with the weak Norwegian krone, this has resulted in a strong increase in the value of seafood ...
Source: Fish Focus
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.