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Salmon leads the way as Norwegian seafood exports leap to record high in October

November 24, 2021

1 mins read

Norway exported over NOK 12.1 billion (EUR 1.1 billion) of seafood during October 2021, representing an increase of NOK 1.6 billion (+15%) year-on-year (y-o-y), according to the Norwegian Seafood Council (NSC). This is the highest ever recorded value of Norwegian seafood exports for a single calendar month, bringing total seafood exports for the first ten-months of the 2021 calendar year (CY) to NOK 96.8 billion, which is NOK 9.5 billion (EUR 8.7 billion) higher y-o-y.

Poland, Denmark, France, the Netherlands and the US were the largest markets for Norwegian seafood exports in October. Salmon was overwhelmingly the main exported product, accounting for two-thirds of total shipments. 128,498 tonnes of Norwegian salmon worth NOK 8 billion (EUR 720 million) were exported during October, representing 9,518 tonnes y-o-y volume growth (+8%), while the export value increased by 24% y-o-y during the same period.

The NSC attributes the resurgence to Norwegian suppliers diversifying export markets, through promotions and technological value addition, despite the COVID-19 pandemic. The re-opening of fresh fish counters has also proven beneficial. Norwegian seafood has landed in 115 markets during the 2021 CY-to-date, compared to 110 markets during 2020 and 97 markets back in 2011. The strength of Norwegian exports comes alongside a strengthening NOK, which appreciated by 10% against the EUR y-o-y in October 2021 and Europe accounts for over two-thirds of Norwegian trade. Thus, EUR-denominated Norwegian exports reconverted into NOK declined in value, although were heavily offset by robust trade volumes.

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Topics: Fish & Seafood
Ibi Idoniboye
Ibi Idoniboye

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