Three consecutive years of value growth for Norwegian seafood exports

Seafood

Norway

Market & Price Trends

Published Mar 5, 2024

Tridge summary

Norway's seafood exports hit a record high in February, driven by strong demand for salmon, trout, cod, and snow crab, despite global challenges. The export value in euros, however, has fallen for three consecutive months due to currency fluctuations. There was significant growth in trout and skrei exports, but a decrease in fresh cod exports. The export volume to Spain and Vietnam saw a massive increase, while exports to China fell. Herring and mackerel exports decreased, but king crab and snow crab exports increased significantly. The export value of snow crab reached a record high, while prawn exports saw a value increase but a volume decrease.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Norway exported seafood worth NOK 13.3 billion in February. This is an increase of NOK 339 million, or 3 per cent, compared with the same month last year.“Thanks to strong growth in the value of salmon, trout, cod and snow crab, the export value in February was lifted to a historically high level. The value of Norwegian seafood exports has now increased every month for three years, which has never happened before", says Christian Chramer, CEO of the Norwegian Seafood Council.The last time there was a decline in export value was in February 2021. In each of the following 36 months, Norwegian seafood exports have shown growth in value, compared with the same months the previous year.Global inflation and currency effectDespite the coronavirus pandemic, the outbreak of war in Europe and a weakened economy during this period, Norwegian seafood has experienced good demand in the seafood market. In addition, the combination of high global price growth and a weak Norwegian krone has ...

Source: Seafood