Norway exported seafood worth NOK 15.5 billion in March. This represents an increase of NOK 522 million, or 3 per cent, compared with the same month last year.
“Norwegian seafood exports performed well in March, despite the war in the Middle East, a stronger Norwegian krone and a continued decline in exports to the US. This is largely due to increased salmon volumes, higher prices for several species such as salmon, cod, mackerel and saithe, as well as further growth in exports to China,” says Christian Chramer, CEO of the Norwegian Seafood Council.
So far this year, Norway has exported seafood worth NOK 43.8 billion. This represents a decline of NOK 449 million, or 1 per cent, compared with the same period last year.
Challenging logistics due to the war in the Middle East
The largest markets for Norwegian seafood exports in March were Poland, China and the USA.
China saw the largest growth in value in March, with an increase in export value of NOK 552 million, or 68 per cent, compared with the same month last year. In total, Norway exported seafood to China worth NOK 1.4 billion in March.
“The war in the Middle East has been particularly challenging for salmon exporters due to increased fuel costs and changes to air freight routes. The fact that export value nevertheless increased in March demonstrates not only how adaptable the salmon industry is, but also that there is generally high demand for Norwegian salmon in the Asian market, explains Chramer.
Growth in Asia offsets the decline in the US
Here is the regional breakdown of Norwegian seafood exports in March by value (changes from March 2025 in brackets):
- Europe: 63 per cent (unchanged)
- Asia: 23 per cent (+5 percentage points)
- US: 9 per cent (-4 percentage points)
“It is the increased exports of salmon to China that account for most of the growth in Asia, but key markets such as South Korea, Thailand and Taiwan also saw a solid increase in export value in March,” says Chramer.
For the third month in a row, Norwegian seafood exports to the US fell by over NOK 500 million compared with the same month last year. This particularly affects salmon fillet exports. Even with increased exports of salmon fillets to a number of other markets, total exports of both fresh and frozen fillets fell in March.
“The main reason for the decline to the US is increased tariffs and a weaker dollar against the Norwegian krone. However, strong growth to China has largely offset the decline in value to the US overall, says Christian Chramer.
Negative currency effect
The Norwegian krone has strengthened by almost 10 per cent against the US dollar and 3 per cent against the euro compared with March last year.
“The strengthening of the krone is dragging down the value of exports measured in Norwegian kroner. The growth in export value is due to price increases for most species, as well as increased export volumes for species such as salmon, haddock, snow crab and herring”, explains Chramer.
High cod prices create uncertainty
The consequences of low cod quotas also continued in March. Cod landings in the first quarter have more than halved since 2022 and are at their lowest level since the turn of the millennium.
“At the same time, high prices are creating uncertainty as to whether the increased raw material costs can be passed on further up the value chain for processed products. This development has consequences for exports of all cod products and is contributing to this year’s season potentially becoming a struggle for survival for many in the onshore industry”, emphasises Christian Chramer.
Strong month for salmon
- Norway exported 106,000 tonnes of salmon worth NOK 10.5 billion in March
- The value increased by NOK 622 million, or 6 per cent, compared with March last year
- This represents a 4 per cent increase in volume
After a month of war in the Middle East, salmon exports to this region have fallen significantly.
“At the start of the war, volumes fell particularly sharply, but in the last week of March, exports to countries such as Saudi Arabia and Israel were at a near-normal level,” says seafood analyst Paul T. Aandahl at the Norwegian Seafood Council.
Increased demand for fresh Norwegian salmon in Asia
In March, the volume of fresh whole salmon exported to Saudi Arabia fell by 13 per cent, to the United Arab Emirates by 33 per cent and to Qatar by 85 per cent.
“Exports to Israel, which buys a lot of salmon fillets from Norway, have overall fallen by 13 per cent in volume compared with the same month last year,” explains Aandahl.
At the same time, export volumes have increased to other countries in Asia.
Exports of fresh whole salmon to China rose by 61 per cent in volume, but Thailand (+37 per cent), South Korea (+24 per cent) and Taiwan (+53 per cent) also recorded strong volume growth in March compared with the same month last year.
- It is the strong growth in demand for fresh Norwegian salmon that is driving the volume growth. It is worth noting that this growth is occurring despite a rise in prices, says Aandahl.
Decline for trout
- Norway exported 5,100 tonnes of trout worth NOK 512 million in March
- The value fell by NOK 33 million, or 6 per cent, compared with March last year
- The volume fell by 15 per cent
Significant drop in volume for fresh cod
- Norway exported 4,000 tonnes of fresh cod worth NOK 404 million in March
- The value fell by NOK 49 million, or 11 per cent, compared with March last year
- Volume fell by 31 per cent
- Denmark, the Netherlands and Spain were the largest markets for fresh cod in March
Landings of fresh cod fell by 19 per cent in March compared with the same month last year.
This also led to a sharp decline in exports of fresh wild cod, which fell by 27 per cent to a total of 2,896 tonnes.
“This is the lowest export volume of fresh wild cod in a March since 2009,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.
Export volumes of fresh farmed cod fell to 1,127 tonnes in March, a 41 per cent decline compared with the same month last year.
Highest ever export price for fresh whole wild cod
The export price of NOK 105 per kg for fresh whole wild cod is the highest ever recorded in a single month. This is a full 31 per cent higher than in March last year.
“The price rise is a result of lower quotas and high demand. The onshore industry in Norway is competing with fresh markets abroad for raw materials for the production of salted fish, clipfish and stockfish. With a sharp decline in the supply of fresh cod again this year, competition is fiercer than it has been for a very long time,” says Brækkan.
Decline for the quality-labelled skrei
- Norway exported 497 tonnes of skrei worth NOK 54 million in March
- The value fell by NOK 21 million, or 28 per cent, compared with March last year
- The volume fell by 44 per cent
- Denmark, Sweden and Spain were the largest markets for skrei in March
The sharp decline in export volumes of quality-labelled skrei is not surprising.
“With prices for non-quality-labelled fresh cod already at record highs, there are probably many consumers who are not willing to pay even more for quality-labelled skrei,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.
Spain remains our largest consumer market for quality-labelled skrei, but volumes are also falling sharply there.
“Future growth in consumption and exports of quality-labelled skrei will likely depend on increased quotas”, explains Brækkan.
A challenging month for frozen cod
- Norway exported 2,200 tonnes of frozen cod worth NOK 237 million in March
- The value fell by NOK 57 million, or 19 per cent, compared with March last year
- The volume fell by 33 per cent
- The UK, France and Vietnam were the largest markets for frozen cod in March
A decline in frozen cod landings is dragging down export volumes.
Although the UK was the largest market in March, there was a decline in export value of as much as 59 per cent to the UK, to NOK 55 million.
Export volume stood at 449 tonnes, which is 68 per cent lower than in March last year.
“Both frozen whole cod and frozen fillets saw a sharp decline in export volume to the UK last month,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.
China was the biggest growth market
China saw the highest growth in value in March, with an increase in export value of NOK 21 million, or 164 per cent, compared with the same month last year.
Export volume to China stood at 562 tonnes, which is 147 per cent higher than in March last year.
“Exports to China in the first quarter are still significantly lower than last year, and large fluctuations in individual months are common for frozen cod. It is therefore too early to conclude whether the strong growth to China will continue,” explains Brækkan.
Value growth for clipfish
- Norway exported 4,800 tonnes of clipfish worth NOK 487 million in March
- The value increased by NOK 68 million, or 16 per cent, compared with March last year
- The volume fell by 12 per cent
- Portugal, the Dominican Republic and Congo-Brazzaville were the largest markets for clipfish in March
For clipfish made from saithe, the export volume fell by 18 per cent to 2,862 tonnes, whilst the export value rose by 7 per cent to NOK 199 million.
For clipfish made from cod, export volume rose by 1 per cent to 1,449 tonnes, whilst export value increased by 24 per cent to NOK 255 million.
Portugal continues to dominate
Portugal saw the largest increase in value in March, with a rise in export value of NOK 45 million, or 25 per cent, compared with the same month last year.
Export volume to Portugal stood at 1,255 tonnes, which is 1 per cent lower than in March last year.
"Portugal continues to dominate as our largest market for cod clipfish. However, lower cod quotas and higher prices have contributed to lower consumption in recent years. Although the year has started strongly, with a 16 per cent increase in the volume of cod clipfish exports to Portugal in the first quarter, there is considerable uncertainty surrounding future developments,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.
Low catch volumes mean higher costs for producers
The sharp rise in landing prices is leading to higher purchasing costs for producers of both clipfish and other cod products.
“One of the major points of interest this year is how this will play out in the markets,” explains Brækkan.
There is also a significant decline in the availability of raw material for clipfish made from saithe.
“Low catch volumes and high demand abroad have pushed up landing prices for saithe, which increases purchasing costs for clipfish producers. We are also seeing increased competition in several markets from Chinese-produced clipfish made from Alaska pollock, says Eivind Hestvik Brækkan.
Decline in volume and value for salted fish
- Norway exported 1,400 tonnes of salted fish worth NOK 179 million in March
- The value fell by NOK 182 million, or 50 per cent, compared with March last year
- Volume fell by 52 per cent
- Portugal, Greece and Spain were the largest markets for salted fish in March
Lower cod quotas are also dragging down export volumes for salted fish. 69 per cent of the export volume of salted fish in March was cod, whilst ling and tusk accounted for 14 and 8 per cent of the volume respectively.
Export volume to our largest salted fish market, Portugal, fell by 59 per cent in March to 911 tonnes, whilst the export value fell by 55 per cent to NOK 133 million.
A slow March for stockfish
- Norway exported 250 tonnes of dried fish worth NOK 67 million in March
- The value fell by NOK 32 million, or 33 per cent, compared with March last year
- The volume fell by 21 per cent
- Italy, Nigeria and Croatia were the largest markets for stockfish in March
For cod stockfish, which is by far the largest species of stockfish, the export volume fell by as much as 50 per cent, to 138 tonnes.
The export value for stockfish ended at NOK 57 million, 40 per cent lower than in March last year.
Solid herring exports
- Norway exported 27,600 tonnes of herring worth NOK 459 million in March
- The value increased by NOK 77 million, or 20 per cent, compared with March last year
- There has been a 39 per cent increase in volume
“The good winter fishing and the quota increase for Norwegian spring-spawning herring (NVG) are now having an impact on exports, with increased volumes and falling prices,” says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.
The volumes of NVG herring landed in Norway in January and February this year were 64 per cent higher than in the same period last year.
“If we look at the whole season as a whole, going back to October, the increase is 15 per cent,” explains Johnsen.
Historically high prices
Never before has herring been exported at a higher value in March than this year. The previous record was 427 million kroner and dates back to 2024.
Egypt continues to dominate as the destination country for whole frozen herring (5,300 tonnes worth 69 million), followed by two other African countries, Morocco and Nigeria.
“Nigeria is a well-known destination for Norwegian herring when the price is right, whilst Morocco is a newcomer, explains Jan Eirik Johnsen.
“With 1,600 tonnes in March, a new export record for herring to Morocco has already been set, says Jan Eirik Johnsen.
Limited mackerel supply affected exports
- Norway exported 7,200 tonnes of mackerel worth NOK 370 million in March
- The value fell by NOK 61 million, or 14 per cent, compared with March last year
- The volume fell by 45 per cent
Mackerel exports are characterised by low mackerel availability. For the 25/26 season, which ran from August through to January, 183,000 tonnes of mackerel were landed in Norway. This represents a 44 per cent decline compared with the previous season.
“Mackerel prices rose to record levels up until last November, but since December, prices for whole frozen mackerel – which accounts for the vast majority of exports - have shown a slight downward trend", says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.
High prices cause concern in South Korea
South Korea is currently the dominant market and has so far this year received more than twice as much Norwegian mackerel as the number two on the list, Vietnam.
“Norwegian mackerel has a particularly strong position in the Korean market, but here too there are signs of concern regarding prices, which have risen sharply and rapidly, says Johnsen.
So far this year, more herring than mackerel has been exported directly from Norway to Japan. This has never happened before.
“This is mainly due to the fall in mackerel exports, but also because herring exports are on the rise. There is growing interest in Norwegian herring in Japan. Due to the limited availability of mackerel and high prices, many players are looking for an affordable and good alternative in the seafood category, and this is having an impact on Norwegian herring, says the Norwegian Seafood Council’s representative in Japan, Johan Kvalheim.
Sharp drop in king crab
- Norway exported 82 tonnes of king crab worth NOK 54 million in March
- The value fell by NOK 35 million, or 40 per cent, compared with March last year
- The volume fell by 48 per cent
- The US, Italy and Canada were the largest markets for king crab in March
“The decline in king crab exports in March must be seen in the context of lower quotas, a closed season for the fishery and limited availability of raw material in March,” says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.
Of the exports in March, 56 tonnes were frozen king crab, mainly to the US, whilst 26 tonnes were exported live, again with the US as the largest market, followed by Italy.
Historically high prices to the US
“The export price of frozen king crab to the US was at a historically high level in March. Measured in Norwegian kroner, only December 2025 has recorded a higher export price. This indicates that a larger proportion of large king crab was exported in March", explains Josefine Voraa.
Exports of live king crab in March were the lowest since 2015. Limited availability due to lower quotas and the closed season are contributing to lower export volumes.
“The price of live king crab remains at a high level, despite the stronger Norwegian krone”, says Voraa.
Volume growth for snow crab
- Norway exported 2,200 tonnes of snow crab worth NOK 403 million in March
- The value increased by NOK 11 million, or 3 per cent, compared with March last year
- This represents a 35 per cent increase in volume
- The US, Canada and the Netherlands were the largest markets for snow crab in March
The increase in value in March was mainly driven by volume. Export prices measured in Norwegian kroner were 24 per cent lower than last year, whilst the price decline measured in US dollars was 16 per cent, due to a stronger Norwegian krone against the dollar.
“Compared with last year, the market appears to have normalised to a greater extent, with higher availability and less price pressure than in the very unusual year of 2025, which was marked by significant tariff uncertainty in the US”, says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.
A good start to the fishing season this year
March was a record month in terms of both export volume and value for snow crab, with the US clearly the largest destination, accounting for an export volume of 1,461 tonnes.
“Canada also continues to be an important market for Norwegian snow crab. In addition, significant volumes went to the Netherlands and to the processing markets of Vietnam and Indonesia,” explains Voraa.
The strong export performance in March must be seen in the context of a good start to the fishing season this year, with increased landings in both January and February.
“Overall, snow crab landings so far this year are around 10 per cent higher than at the same time last year. At the same time, a larger proportion has been landed live, which has contributed to increased production onshore and influenced the composition of exports”, says Josefine Voraa.
Growth in volume and value for prawns
- Norway exported 2,000 tonnes of prawns worth NOK 190 million in March
- The value increased by NOK 59 million, or 45 per cent, compared with March last year
- There has been an 8 per cent increase in volume
The export trend in March must be seen in the context of the prawn season now being in full swing, with increased landings in February and March and better access to raw materials.
“After a weak start to the year, exports of frozen prawns picked up significantly in March, with increased volumes and strong value growth for both frozen cooked shell-on prawns and frozen raw prawns,” says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.
Exports of frozen raw prawns saw the largest volume growth in March, with an increase of 648 per cent to 535 tonnes. At the same time, the export value rose by 372 per cent, equivalent to NOK 30 million. China was by far the largest market and accounted for the majority of the volume growth.
Frozen, cooked shell-on prawns contributed most to the growth in value
For frozen, cooked shell-on prawns, the export volume rose slightly to 848 tonnes, whilst the export value rose sharply to NOK 76 million, representing growth of 114 per cent on last year.
“This was the product that contributed most to the growth in value in March. Iceland and Denmark were the largest recipients, followed by China,” says Voraa.
Exports of frozen, peeled prawns, however, declined in March due to lower volumes available for export following a weaker fishing season in 2025.
“Despite a 19 per cent price increase, the export value fell due to a 41 per cent drop in volume. Sweden, the UK and Finland were the largest markets, but all three had lower imports than last year”, says Josefine Voraa.
