New February record: Norwegian seafood exports registered 30% growth

SalmonPhoto: Gorm Kallestad / NTB
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In February, Norway exported seafood worth NOK 11.3 billion – an increase of 30% from the same month last year and a new February record.

“This is the highest value of Norwegian seafood exports ever registered in February,” Renate Larsen, CEO of the Norwegian Seafood Council, stated in a press release.

A monthly record was also set in January this year, with exports worth NOK 10.3 billion.

In February, Poland was the largest recipient of Norwegian seafood, with imports worth NOK 1.1 billion.

Russian invasion disrupts exports

In February, Norway exported seafood worth NOK 176 million to Ukraine. Since the Russian invasion of the country, these exports have been stopped.

The sanctions against Russia also create logistics challenges that affect trade, Larsen added.

Asia

“Salmon is still the engine boosting export, but February was also a good month for cod, trout, snow crab, and a number of smaller species. 

“Asia is increasing its share of seafood exports from Norway. In some countries, salmon prices increased by as much as 50 to 100% compared to February last year,” Larsen said.

Increased demand for salmon

Last month, salmon prices were historically high, with an average price of NOK 82 per kilo. The volume decreased, but 89,700 tonnes of salmon were exported at a value of NOK 7.8 billion. This is a turnover increase of 47% from February last year.

“This is a continuation of a positive trend from the second half of 2021. The growth must be seen in connection with the reopening of society and increased consumption in the restaurant market,” marine analyst Paul T. Aandahl stated.

A monthly record was also set for cod in February, with exports worth NOK 75 million.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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