Value growth for salmon and trout contributed to solid seafood exports in May

Published Jun 6, 2024

Tridge summary

In May 2023, Norway's seafood exports reached record highs, driven by increased volumes and prices for salmon, trout, and prawns. Despite a stronger Norwegian krone, the EU, particularly Spain, saw significant growth in salmon exports, while Ukraine showed the highest growth for trout. Cod exports faced mixed results, with fresh wild cod declining but farmed and frozen cod rising, especially to the Netherlands and China. Portugal and Italy saw notable increases in clipfish and stockfish exports, respectively. Mackerel and herring exports faced challenges due to quota cuts and quality issues. The seafood industry also saw strong performances in live king crab, snow crab, and prawn exports, with significant demand from Asia and the USA.

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Original content

Value growth for salmon and trout contributed to solid seafood exports in May. Norway exported seafood worth NOK 14 billion in May. This is an increase of NOK 1 billion, or 8 per cent, compared with the same month last year. “The growth in value in May is largely due to increased export volumes of both salmon and trout, as well as price growth for salmon,” says Christian Chramer, CEO of the Norwegian Seafood Council. Best May ever for seafood exports In the first four months of the year, the Norwegian krone was weaker than in the corresponding months last year, which boosted export prices measured in Norwegian kroner. This has now changed. “In May, the Norwegian krone strengthened, so there was no positive currency effect last month. Despite this, the value of Norwegian seafood exports has never been higher in a month of May before. Although these are challenging economic times for many consumers, Norwegian seafood is still a highly sought-after food product,” says Chramer. Three ...

Source: Fish Focus