Norway continues to be successful in July, with figures and Chinese market weight up

The Norwegian Seafood Council's monthly report for July showed an 8% increase in product exports compared to the same period in 2022.
China market. Photo by: Norwegian Seafood Council.
China market. Photo by: Norwegian Seafood Council.

The Norwegian Seafood Council's (NSC) monthly report for July showed an 8% increase in product exports compared to the same period in the previous year. Thus, in figures, it translated to an increase of NOK 12.4 billion (EUR 1.10 billion/ USD 1.21 billion).

As of the current date, there has been a year-on-year increase of NOK 13 billion (EUR 1.16 billion/ USD 1.27 billion), representing a growth of 16%, bringing the total value of exports to NOK 94.4 billion (EUR 8.45 billion/ USD 9.24 billion).

Furthermore, among the characteristics analyzed by the NSC for the increase in value was a weak Norwegian krone. All this has generated one more month of a significant increase in the prices of fresh salmon fillets, salted cod, and frozen whole mackerel products. Although, in comparison cod, saithe, and herring have experienced a decline.

The top markets for Norwegian seafood exports in July were Poland, Denmark, and the United States. Although seafood products were exported to 106 countries, this was six fewer than in July 2022.

The species that have been tasted most in July in detail

Fresh cod has been ranked number 1 in growth. It was in high demand in European markets, with an 18% increase in the value of exports, mainly to Denmark, Germany, and the Netherlands.

In addition, frozen cod exports to the United Kingdom also performed well, with an overall increase in volume, reaching a level not seen since 2002 after the first seven months of the year.

Exports of desalted cod also increased in value, especially to Portugal, Brazil, and the Dominican Republic.

Trout was another favorite. This fish experienced a 14% increase in volume this July, with the main markets being the United States, Ukraine, and Thailand.

On the other hand, salmon exports were in good demand, with 95,620 tons exported in July, resulting in a 13% increase in export value compared to the previous year. Poland, France, and Denmark were the main markets for salmon.

Finally, two more seafood products stood out with positive numbers: dried fish and king crab. Dried fish witnessed an increase in value, particularly in Italy, the United States, and Nigeria. On the flip side, the king crab exports experienced a significant boost in value and volume, driven primarily by successful fishing and an increase in live red crab exports to Asian and American markets.

The species that showed a decrease compared to the previous year were snow crab, saithe cod, herring, and salted fish.

China the best market for Norwegian products in July

The Asian country experienced a significant increase in the value of Norwegian seafood exports. The figures shown a 90% increase in export value and a 59% increase in export volume compared to July 2022.

"There has never been such a strong July for the export of salmon to China", said Andreas Thorud, the NSC representative in China. "We must bear in mind that July 2022 was still characterized by Covid-19 and closures and that July is traditionally the high season for demand for salmon in the Chinese market."

About Norwegian Seafood Council

The Norwegian Seafood Council is a government-owned public company operating under the Ministry of Trade, Industry, and Fisheries of Norway. The Norwegian seafood industry receives support through funding derived from a tariff imposed on all Norwegian seafood exports. NSC collaborates closely with the fisheries and aquaculture sectors, focusing on market research, market expansion, and safeguarding the industry's reputation. With its headquarters in Tromsø, NSC also has representatives stationed in twelve key international markets within Norway.

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