Salmon prices in foreign currencies have fallen.
Norway exported seafood worth NOK 14.6 billion ($1.34 billion) in August 2024, marking a 5% increase compared to the same month last year. This represents a growth of NOK 724 million ($66.4 million).
“August 2024 has the highest export value ever measured in an August month,” said Christian Chramer, CEO of the Norwegian Seafood Council.
Half of this growth in value is attributed to the weaker Norwegian krone, which has boosted export figures. Increased volumes of salmon, trout, and mackerel also contributed to the rise, as did higher prawn exports. However, salmon prices in foreign currencies have fallen, and lower volumes of saithe and cod were recorded.
Chramer also pointed out that while the low exchange rate supports high export figures, seafood companies are facing rising costs, which are not necessarily reflected in their revenues.
“At the same time as the low exchange rate results in good export figures measured in Norwegian kroner, many seafood companies have to deal with the general increase in costs in society. Expenses are not necessarily in line with revenues,” says Chramer.
