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Price growth and increased volumes resulted in the highest value ever for Norwegian seafood exports in November

Published Dec 4, 2024

Tridge summary

In November, Norway saw a significant increase in seafood exports, with a value of NOK 17.3 billion, a rise of 6% compared to the same month the previous year. This marks the best November on record in terms of value. The growth is primarily due to higher prices and increased volumes for key species such as salmon, mackerel, cod, haddock, and herring. However, industry challenges such as new quota cuts, increased costs, and tougher global competition persist. The EU, USA, and China were the largest markets for Norwegian seafood, with Poland, France, and the Netherlands being the largest markets for salmon. The export value of herring and mackerel reached record highs, while there was a decline in exports of fresh and frozen cod. Mackerel exports also hit a new record of NOK 7.7 billion for the first 11 months of the year. Despite these challenges, prawn exports to China have seen the biggest growth, with a value of NOK 12 million from nothing last year. Overall, the year has seen a new export record of NOK 160.4 billion, with a strong autumn for herring and mackerel, and value growth for clipfish, salted fish, and stockfish.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Norway exported seafood worth NOK 17.3 billion in November. This is an increase of NOK 1 billion, or 6 per cent, compared with the same month last year."We've seen several months in a row of solid growth in seafood exports, and this trend continued in November. Thanks to price growth for salmon, mackerel, cod, haddock and herring, this was the best November ever in terms of value," says Christian Chramer, CEO of the Norwegian Seafood Council.No currency effect in totalIn contrast to previous years, seafood exports have not been helped by a weak Norwegian krone. “Compared to the same month last year, the Norwegian krone is slightly stronger against the euro, but weaker against the US dollar. In total, there is no currency effect, so the value growth is mainly driven by higher prices and increased volumes for some of our most important species," explains Chramer.Increased costs and tougher global competition He emphasizes that although Norwegian seafood exports are increasing in ...
Source: Seafood
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