Norwegian seafood exports fall in value in May

Seafood Norway TodaySeafood.Photo: Norway Today Media

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The value of Norwegian seafood exports fell for the second month in a row. In May, Norway exported seafood worth NOK 7.8 billion. This represents a reduction of NOK 764 million, or 9 per cent, compared with May last year.

“The decline in export value is due to losing the restaurant segment in several markets. In addition, we are experiencing increased freight costs because many passenger aircraft that previously carried fresh seafood are now grounded. A further factor impacting export value is weakening purchasing power and considerable uncertainty throughout the value chain and in individual markets”, says Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council.

On the other hand, Gangsø indicates that many more people are buying seafood at the store and cooking it at home themselves.

“This change in consumption can make a positive contribution in the longer term, as the threshold for making seafood at home is now lower. In addition, if our most important markets open in the future, this can strengthen the demand for Norwegian seafood”, 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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