Tridge summary
The devaluation of the Norwegian krone has led to an increase in the value of seafood exports from Norway, with the United States being the largest market. Salmon prices have been rising for two and a half years and reached over NOK 10 billion in export value in August. The tourism industry rebounded during the summer months, boosting outdoor consumption of Norwegian seafood.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
“The devaluation of the crown is the main reason for the increase in the value of exports. In August, the Norwegian krone was as much as 16 percent weaker against the euro than in the same month last year. This explains almost the increase in export value,” says Christian Schramer, CEO of the Norwegian Seafood Council. Five key indicators of seafood exports in August: 1. The largest increase in the value of exports to the United States As for regions of the world, it was in North America, where the United States is the largest market, that the strongest increase in value was observed in August. Exports to this market increased by 24 percent to a total of NOK 1.5 billion. This represented 10.4 percent of total Norwegian seafood exports in August in value terms. “The US is becoming an increasingly larger and more important market for us. We have to go back to the 1980s to find a month in August when more than 10% of the total value of Norwegian seafood exports went to North ...
Source: Fishretail
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