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Image: Courtesy Norwegian Seafood Council

Norwegian crab and shrimp market situation

Click on the flag for more information about Norway NORWAY
Friday, September 10, 2021, 18:00 (GMT + 9)

The Norwegian Seafood Council announced days ago that a year-on-year growth in value of 32 percent is the highest in history. Species such as salmon, mackerel, dried fish and king crab have contributed the most to this increase.

This is the last part of the report where it is focused that the two species of crabs and the prawn:

Growth for king crab exports

  •     Norway exported 349 tonnes of king crab worth NOK 155 million in August.
  •     This is an increase in volume of 1 per cent.
  •     Export value increased by NOK 47 million, or 43 per cent, compared with August last year.
  •     South Korea, Hong Kong SAR and the USA were the largest markets for Norwegian king crab in August.

Historically, August is a strong month for the export of red king crab, and August this year is no exception.

“Never before has the export value of king crab for a single month been higher than in August this year. This is due to continued high demand and good prices for both live and frozen king crab for our most important markets in Asia and North America”, says Josefine Voraa, Manager for Shellfish with the Norwegian Seafood Council.

A solid increase by value

The Hong Kong SAR is emerging as the largest growth market for live red king crab in August, with an increase of NOK 40 million, or 632 per cent.

"Challenging logistics to the Chinese mainland meant that larger volumes of live king crab were exported directly to the Hong Kong SAR,"
says Voraa.

Live king crab accounted for 80 per cent of the export volume and value in August. This is a solid increase in value of NOK 43 million, or 53 per cent, compared with August last year.

Snow crab quota is fished

  •     33 tonnes of snow crab worth NOK 9 million were exported in August.
  •     This is a reduction in volume of 73 per cent.
  •     Export value fell by NOK 11 million, or 54 per cent, compared with August last year.
  •     South Korea, the USA and Turkey were the largest markets for Norwegian snow crab in August.

The reason for the decline in exports in August is that Norwegian vessels had fished the entire quota by July this year.

“Unlike last year, when there was a positive development in the export of snow crab in the second half of the year, this year has seen good fishing and strong demand in the first half”,
says Josefine Voraa, Manager for Shellfish with the Norwegian Seafood Council.

In the first eight months of the year, snow crab was exported for just under NOK 809 million, an increase of 208 per cent compared with the same period last year.

A fall in prawn exports

  •     939 tonnes of prawn worth NOK 68 million were exported in August.
  •     This represents a reduction in volume of 5 per cent.
  •     Export value fell by NOK 10 million, or 13 per cent, compared with August last year.
  •     Sweden, the United Kingdom and Finland the largest markets for Norwegian prawn in August.

Following a challenging prawn export to the UK last year as a result of the corona pandemic, the market is now normalising.

“The reopening of the hotel, restaurant and canteen sector has contributed to the UK again being the second largest market for Norwegian prawn in August, the value of shrimp exports to the UK increased by NOK 4.2 million, or 70 per cent, compared with the same month last year”, says Josefine Voraa, Manager for Shellfish with the Norwegian Seafood Council.



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