Weak krone still boosting Norway’s seafood exports
Seafood
Norway
Published Jun 5, 2023
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News Weak krone still boosting Norway's seafood exports - Fish Farmer Magazine
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A further decline in the value of the krone was the major contributor to another increase in the value of the country’s seafood exports in May, it emerged today. The total for last month, according to the Norwegian Seafood Council, was NOK 13.1bn (almost £1bn), a rise of 7% or NOK 816m (£60m) on May last year. One pound sterling will buy NOK 13.6 today compared with around NOK 12 a year ago. Farmed salmon accounts for 70% of the country’s overall seafood exports. Seafood Council CEO Christian Chramer said that, as happened in April, there was another significant currency effect last month. “The weak Norwegian krone alone contributed to an increase in value of around NOK 1.5 billion last month. “Without this currency development, there would have been a decline in export value. The market situation has now become more demanding,” he added. Chramer said that measured in euros, the export value fell by 8% in May, while measured in dollars it fell by 5%, compared to May last year. ...
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