Norway has exported seafood worth NOK82.3 billion in the first half of 2023, despite a drop in export volumes.
Value is up 18% compared to the same period last year, which much of the increase because of a weak Norwegian krone and high food prices across the globe.
“In terms of value, Norwegian seafood exports have never had a stronger first half of the year,” said Norwegian Seafood Council chief executive, Christian Chramer.
“A combination of a weak Norwegian krone and high global food inflation has resulted in a sharp rise in prices for our most important seafood species,” he added.
In the first half of the year, Norway exported 1.3 million tonnes of seafood, a decrease of 5% compared with the first half of 2022. Herring, cod, and salmon all had a drop in export volume, as a result of challenging fishing conditions, reduced quotas and lower salmon production volume, said Chramer.
‘Not positive’
“It is important to be aware that it is currency, and not volume, that has been the major driver these last six months. This is not positive, even when set against a generally good six months for seafood exports,” said Bjørnar Skjæran, Fisheries and Oceans Minister.
More positively, there are indications that food inflation may have peaked, with the rise in prices slowing in the US and now in Europe.
“This is positive for consumers’ purchasing power but may also indicate that price growth for Norwegian seafood will decrease in the future,” said Chramer.
