News

Three consecutive years of value growth for Norwegian seafood exports

Seafood
Norway
Market & Price Trends
Published Mar 21, 2024

Tridge summary

Despite global challenges, Norwegian seafood exports have seen a historical increase in value for three years, driven by salmon, trout, cod, and snow crab. However, currency fluctuations have led to a decrease in export value in euros. Europe remains the primary market, with a shift towards more processed products. Fresh cod exports have decreased, but farmed cod exports have risen by 22%. The UK has become the largest market for frozen cod, overtaking China. Despite a drop in cod clipfish production and herring fishery landings, king crab exports reached a record high. Sanctions against Russian crab have boosted demand for Norwegian seafood in the US, with snow crab exports reaching a record high.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

"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 effect "Despite 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 contributed to the three-year value growth", explains Chramer. Fall in value for three months in a row measured in euros "The big picture is that we are ...
Source: EuroMeat
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