Norway: Weak June resulted in a decline in seafood exports in the first half of the year

Published 2024년 7월 3일

Tridge summary

Norway's seafood exports reached NOK 80.6 billion in the first half of the year, marking a 2% decrease from the previous year but still the second-best performance ever. The industry faced challenges such as weakened purchasing power in key markets, lower export volumes, and increased global competition. Salmon remained the top export species despite a 3% drop in value, while trout exports saw significant growth. Cod exports experienced a notable decline, particularly fresh wild cod, though fresh farmed cod exports increased. Herring and mackerel exports also fell due to reduced quotas, but mackerel prices hit a record high. Snow crab exports had a record-breaking first half, while prawn exports saw their strongest performance since 2000. Key markets included Poland, Denmark, the USA, and Canada.

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Original content

Norway exported seafood worth NOK 80.6 billion in the first half of the year. This is a decrease of NOK 1.6 billion, or 2 per cent, compared with the same period last year.“Although there was no growth in value, the first half of the year was the second best ever in terms of value. Only last year was better. A weak Norwegian krone and high prices for cod and salmon boosted value in the first five months of the year. However, the growth stopped in June, which is largely driven by falling salmon prices," says Christian Chramer, CEO of the Norwegian Seafood Council."Despite the downturn, the seafood industry is delivering strong figures with the second-best half-year figures ever. Nevertheless, weakened purchasing power in key markets, lower export volumes and increased competition from other seafood nations is something we must take very seriously, including through our work on market access," says Marianne Sivertsen Næss (Ap), Minister of Fisheries and Ocean Policy.Historical ...

Source: Seafood