The value of Norwegian seafood exports has never been higher in a single month than in August 2022.
During this month, Norway exported NOK 12.5 billion worth of seafood, an increase of NOK 2.9 billion, or 30% compared to August 2021.
”It is the particularly high volumes and prices for salmon that are driving export records in August. This is the best single month of all time for salmon measured in value, while there is an August record for pollock, trout, haddock and the entire whitefish category,” said Børge Grønbech, acting CEO of the Norwegian Seafood Council.
Demanding times
So far this year, the export value of Norwegian seafood has grown by NOK 21.2 billion, or 29%, to a total value of NOK 94 billion, compared to the first eight months of 2021.
But Mr Grønbech warns, despite the strong market global trade is in a period of high inflation, lower purchasing power, challenging logistics and increased production costs.
Moreover, a strengthening of the krone against the euro, as was seen in August, is a challenging factor for exporters.
Also, when compared to last year, home consumption of seafood is falling in Europe.
“This is to be expected since more people this year are traveling on holiday and eating their meals outside the home. So, more seafood goes to the hotel, restaurant and canteen segment. These are important and well-paying purchasers of Norwegian seafood,” said Mr Grønbech.
Last month saw value growth for all three of the largest markets - North America 59%, Asia 33% and Europe 29%
Export value was as high in August as in the whole of 1990 indicating how strong the development of Norwegian seafood has been.
It was a record month for salmon with 120,700 tonnes of salmon with a value of NOK 9.2 billion exported. Poland, Denmark and the USA were the largest markets.
