Weak Krone Exchange Rate Skyrockets Salmon Exports – E24

Weak Krone Exchange Rate Skyrockets Salmon Exports – E24

According to the Seafood Council, two-thirds of the increase in exports is due to the exchange rate of the krone.

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Norway exported NOK 16.7 billion worth of seafood in November.

This is an increase of NOK 2.4 billion or 17 percent compared to the same month last year, writes Norges Sjømatråd.

– Already on November 13, seafood exports surpassed the 2022 record value of NOK 151.4 billion. This year, the value will top out at NOK 170 billion, which we can largely thank for the weak Norwegian krone, says Christian Chramer, CEO of Norway’s Seafood Council.

– Two-thirds are due to Crohn’s

So far this year, Norway has exported NOK 158.2 billion worth of seafood. This is a value increase of 15 percent or more than NOK 20 billion compared to the same period last year.

– Almost two-thirds of this value increase can be attributed to the weaker Norwegian krone. Kramer explains that our most important trading currency, the euro, has strengthened by 14 percent against the Norwegian krone in the past year.

Norway exported 128,324 tons of salmon worth NOK 11.7 billion in November.

Measured by value, November was the second best single month for Norwegian seafood exports. Only the value of October is higher.

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– November was a particularly good month for salmon. The increased volume and higher prices compared to the same period last year testify to increased demand in the market, Chramer says.

Poland had the largest increase in the value of salmon this month, with an increase in export value of NOK 568 million or 43 percent compared to the same month last year.

Export volume to Poland ended at 22,887 tons, which is 20 percent higher than the same month last year.

Joshi Akinjide

Joshi Akinjide

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