The Norwegian Seafood Council has announced that Norway exported NOK 41.4 billion (€3.6 billion) worth of seafood in the first quarter of 2023.
This is an increase of NOK 7.4 billion (€645 million), or 22%, compared to the same period last year.
Poland, the USA and Denmark were the largest markets for Norwegian seafood exports in the first quarter.
Weak Currency
The council claims a weak krone was the main reason for lifting the export value by around NOK 3 billion (€261 million) in the first quarter, while increased prices in the markets contributed NOK 6 billion (€535 million).
The fall in volume, reduced the export value by approximately NOK 1.8 billion (€156 million).
Exports to the USA saw the greatest growth in value in the first quarter, with an increase in export value of NOK 1 billion (€87 million), or 40%, compared to the same period last year.
The council says salmon boosted the increasing export value to the American market, but trout and frozen snow crab have also had a strong first quarter.
'Challenging Times'
"Many value records have been set in the first quarter, for example for salmon and in the whitefish category, but when we look behind the numbers, the picture is not as so positive," said Christian Chramer, managing director of the Norwegian Seafood Council.
He added, "Strong food inflation and the weak krone explain a large part of the increase in value, and in addition the export volume of cod and salmon is falling, which helps to raise prices.
"World trade will also be affected in 2023 by war and turmoil in the world economy, so we are still living in challenging times. This is felt keenly in the markets, where consumers are now experiencing that their purchasing power has been substantially weakened."
© 2023 European Supermarket Magazine – your source for the latest fresh-produce news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
