Price growth led to a record start for Norwegian seafood exports in 2023

Published Feb 3, 2023

Tridge summary

Norway's seafood exports in January hit an all-time high of NOK 12.7 billion, a 23% increase from the same period last year, driven by higher prices and a weaker Norwegian krone. Despite economic challenges, the USA, Denmark, and Poland were the largest markets. The export value for salmon, cod, trout, pollock, and herring increased, with the USA becoming the largest market for Norwegian salmon. However, there was a decrease in the export volume of fresh whole salmon to Europe. Cod prices reached a record high, and herring exports experienced a solid price increase. Mackerel exports also increased in volume and value, despite being limited to Asian markets. King crab exports to North America continued to grow, while the export of frozen king crab showed weakness. Finally, there was an increase in export volumes for snow crab and prawns, with frozen, peeled prawns being the most significant product.

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

Original content

Norway exported NOK 12.7 billion worth of seafood in January. An all time record for the month. This is an increase of NOK 2.4 billion, or 23 per cent, compared to January last year. “Price growth is the most important reason why January was another record month for seafood exports. The export prices for salmon, cod, trout, pollock and herring were significantly higher than in January 2022”, says Christian Chramer, CEO of Norway's Seafood Council.“Despite troubled times and changing product flows, seafood exports have reached new heights. Inflation is still high in large parts of the world, and consumers in Europe have significant challenges with lower purchasing power and negative expectations for their economy going forward”, says Chramer.In January, there was a decrease in the export volume of fresh whole salmon to Europe, while China and the USA stand out with significant growth.“Only 66 per cent of Norway's total exports of salmon measured in value went to ...

Source: Seafood