Seafood exports from Norway in May 2023

Published 2023년 6월 19일

Tridge summary

In May, the value of Norway's seafood exports decreased by 8% in euros and 5% in dollars compared to the same month last year, due to a strong Norwegian krone and high food inflation. Despite this, the total export value for the first five months of the year increased by NOK 9.9 billion, reaching NOK 67.5 billion. The export of salmon, cod, and seafood has declined in Europe due to economic weakness and changing consumer habits. However, demand for Norwegian salmon in China has increased, with exports to China growing by 83% in value compared to last year. This is the highest export value to China since the early 2000s, attributed to the market's reopening and strong demand.

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

Original content

“As in April, in May we also see a significant currency effect. Only a weak Norwegian krone helped boost the value of exports by about NOK 1.5 billion last month. Without such development, there would be a decline in the value of exports. The market situation has now become more complex,” says Christian Schramer, CEO of the Norwegian Seafood Council. In euro terms, the value of exports fell by 8% in May, while in dollar terms it fell by 5% compared to the same month last year. Cost Increases Due to Currency Effect and Food Inflation “The reopening in the wake of the coronavirus pandemic and the subsequent high inflation around the world contributed to the rise in global food prices last year. Together with the weak Norwegian krone, this has led to a significant increase in the value of seafood exports,” says Schramer. So far this year, NOK 67.5 billion worth of seafood has been exported. This represents an increase of NOK 9.9 billion compared to the same period last year. “In ...

Source: Fishretail