Norwegian seafood exports equal earlier July records – despite a challenging situation in the markets

seafood exports.NorwaySalmon.Photo: Gorm Kallestad / NTB scanpix

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Norway exported seafood worth NOK 7.9 billion in July, maintaining the same export levels as July 2019. So far this year, Norway has exported seafood worth NOK 60.8 billion. Export value has increased by 3 percent, or NOK 1.9 billion compared to the same period last year.

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Three highlights from July export statistics

The value of seafood exports equalled last year’s record for July. Contributing factors include:

  • A weakened Norwegian krone has contributed to an increase overall, but there are relatively large differences between seafood species. Saithe and herring prices have held up relatively well compared with more expensive species such as salmon and cod where we see somewhat lower prices measured in euros and dollars
  • We are experiencing weaker demand for salmon, especially in some Asian markets.
  • It has been a good July for exports of frozen whitefish, compared with the same period last year. There are still challenges for some conventional markets.

“The currency situation is still favourable for export value, but the Norwegian krone has strengthened recently. At the same time, the situation in Asia has still not normalized after suspicions of infection in a food market in China in June. At the same time, general tourism is lower than last year, with fewer freight options and some restrictions in individual markets. The European markets are importing larger volumes overall, but at a lower price”, says director of market insight and market access at the Norwegian Seafood Council, Tom-Jørgen Gangsø.

Source: seafood.no / Norway Today

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