The export value of Norwegian seafood has never been higher in April. – The growth is largely due to the Norwegian krone, says Norway’s Seafood Council.
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The Norwegian krone has a tough period behind it. In April, the krone approached its weakest level since before the last interest rate hike in December last year.
However, the seafood sector benefits from the krone doing poorly against the euro and the US dollar.
In April, Norway exported NOK 13.9 billion worth of seafood. This is an increase of 7 percent compared to the same month last year. This is what Norway’s Seafood Council writes in a press release.
– In addition, last month there was an increased export volume for several species, such as trout, pollock, haddock, snow crab and mackerel, says CEO of Norway’s Seafood Council, Christian Chramer.
Easter fell in March this year, while it was in April last year. This resulted in four more working days in April this year than in the same month last year, which also affected seafood exports, writes the council.
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Decline this year
In the press release, Norway’s Seafood Council writes that the volume of exported salmon in April fell by 1 percent compared to the same month the previous year. At the same time, the value of all exported salmon rose by 2 per cent.
– There is a record high price for fresh whole salmon at NOK 121 per kilo. This is three kroner higher than the previous record month, which was in March 2023, says seafood analyst Paul T. Aandahl at the Norwegian Seafood Council.
Even with the lowest export volume for cod in over ten years, the export value for cod has never been higher in the month of April.
The press release states that increased prices for salted fish, as well as fresh and frozen cod, have contributed to the rise in prices driven by quota reductions and increased demand abroad following sanctions against Russian cod.
Norway has exported NOK 54.2 billion worth of seafood so far this year. This is a slight decrease of NOK 200 million compared to the same period last year.
The Seafood Council writes that Poland, Denmark and the USA were the largest markets for Norwegian seafood exports in April.
Poland had the largest increase in value with an increase of 19 per cent in April compared to the same month last year.
