Norway exported seafood worth NOK 13.4 billion in May. This represents a decline of NOK 146 million, or 1 per cent, compared with the same month last year.

“A turbulent geopolitical backdrop, trade barriers and reduced availability of raw materials continue to affect seafood exports. So far, 2026 has been far more challenging than last year for Norwegian seafood. Despite higher prices for salmon, cod and mackerel in May, this was also a month without growth in value,” says Christian Chramer, CEO of the Norwegian Seafood Council.

Fourth month of value decline in 2026

May is the fourth month this year to see a decline in the value of seafood exports. So far this year, March is the only month to have seen growth in value compared with the same month last year.

“Lower volumes of cod, mackerel and salmon fillets dragged down the export value in May. In addition, the Norwegian krone was significantly stronger against the dollar and the euro last month than at the same time last year. This means that export prices are lower when measured in Norwegian kroner”, explains Chramer.

Continued challenges in the flow of goods in the Middle East

The war in the Middle East also had an impact on the flow of salmon and trout in May.

“There are still many challenges relating to logistics and reduced tourism in this region. In May, Norwegian salmon saw a drop in volume of over 20 per cent to all major markets in the Middle East, says Christian Chramer.

Billions lost to the US

So far this year, Norway has exported seafood worth NOK 70.3 billion. This represents a decline of NOK 1.7 billion, or 2 per cent, compared with the same period last year.

The US is the market that has seen the sharpest decline in the first five months of the year. The drop in export value totals NOK 2.4 billion compared with the same period last year.

“May exports to the US follow the same trend, with a fall in value of NOK 363 million. This is largely due to a decline in fresh and frozen salmon fillets, which are major and important products from Norway to the US,” says Christian Chramer.

Poland and China are growing the most

In May too, Poland and China were our largest growth markets, with an increase in export value of NOK 377 million and NOK 315 million respectively.

“Whilst growth in Poland is primarily driven by fresh whole salmon, there is strong demand for seafood for raw consumption in China. Salmon and prawns in particular are growing”, explains Chramer.

Here are the three largest growth markets in May measured by value (changes from May 2025 in brackets):

  1. Poland: NOK 1.7 billion (+29%)
  2. China: NOK 1.2 billion (+37%)
  3. Sweden: NOK 470 million (+27%)

Low landing volumes for cod

Seafood exports this year have been characterised by significantly lower volumes for a number of our largest species, due to quota reductions.

In the first five months of the year, export volumes fell sharply for species such as cod (-29%), mackerel (-55%), saithe (-30%), prawns (-34%) and king crab (-54%).

“We also saw this trend for several of our largest wild-caught species in May. The landing volume for cod, for example, was the lowest recorded in a month of May this millennium,” says Christian Chramer.

Norway’s 10 largest export markets in May

Here are Norway’s 10 largest export markets in May by value (changes from May 2025 in brackets):

  1. Poland: NOK 1.7 billion (+29%)
  2. China: NOK 1.2 billion (+37%)
  3. USA: NOK 992 million (-27%)
  4. Spain: NOK 775 million (+5%)
  5. Netherlands: NOK 750 million (-2%)
  6. United Kingdom: NOK 742 million (-17%)
  7. France: NOK 739 million (-3%)
  8. Denmark: NOK 611 million (-27%)
  9. Portugal: NOK 564 million (-14%)
  10. Italy: NOK 518 million (-2%)

Salmon: Strong growth in domestic consumption in Europe

  • Norway exported 111,062 tonnes of salmon worth NOK 9.6 billion in May
  • The value increased by NOK 101 million, or 1 per cent, compared with the same month last year
  • The volume is the same as in May last year
  • Poland, China and Spain were the largest markets for salmon in May

Poland saw the largest increase in value in May, with a rise in export value of NOK 299 million, or 27 per cent, compared with the same month last year.

Export volume to Poland stood at 18,337 tonnes, which is 29 per cent higher than in the same month last year.

“This trend must be seen in the context of strong growth in domestic salmon consumption in Europe. In Germany, consumption has risen by around 12 per cent over the past year,” says seafood analyst Paul T. Aandahl at the Norwegian Seafood Council.

Increase in salmon sales in Germany

Germany is traditionally a price-sensitive salmon market, and much of the salmon comes from Poland, where it is processed.

“When the price of other proteins rises more than that of salmon, or when supermarket chains run promotions, this has a significant impact in a country as populous as Germany. The research firm Nielsen reports an increase in salmon sales so far this year compared with last year, and this growth is across all categories, from frozen and smoked to raw and marinated”, says the Norwegian Seafood Council’s representative in Germany, Christine Iversen.

It is the US that has seen the biggest drop in value compared with May last year. The decline amounts to NOK 630 million, or 40 per cent.

“This negative trend is largely due to the introduction of tariffs, uncertain market access and a weaker dollar”, says Paul T. Aandahl.

Trout: Largest increase in value to Poland

  • Norway exported 6,484 tonnes of trout worth NOK 540 million in May
  • The value fell by NOK 47 million, or 8 per cent, compared with the same month last year
  • The volume fell by 11 per cent
  • The US, Ukraine and Poland were the largest markets for trout in May

Poland saw the largest increase in value in May, with a rise in export value of NOK 27 million, or 62 per cent, compared with the same month last year.

Export volume to Poland stood at 910 tonnes, which is 50 per cent higher than the same month last year.

Fresh cod: Sharp drop in volume

  • Norway exported 2,012 tonnes of fresh cod worth NOK 168 million in May
  • The value fell by NOK 43 million, or 20 per cent, compared with the same month last year
  • The volume fell by 31 per cent
  • Denmark, the Netherlands and Poland were the largest markets for fresh cod in May

For fresh wild cod, the export volume fell by 52 per cent to 808 tonnes, whilst the export value fell by 39 per cent to NOK 76 million.

“The export volume of 808 tonnes is the lowest export volume for fresh wild cod in a month of May since 1995. The decline is linked to the fact that last month’s landing volume is the lowest recorded in a month of May since the turn of the millennium,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.

55 per cent of fresh cod comes from aquaculture

For fresh farmed cod, the export volume fell by 1 per cent to 1,204 tonnes, whilst the export value rose by 8 per cent to NOK 92 million.

Farmed cod accounted for 55 per cent of the export value of fresh cod.

"This means that farmed cod accounts for over half of fresh cod exports for the ninth time ever in a single month, and for the first time in May. With prospects of increased volumes in the coming months, we expect farmed cod to remain the dominant category for the rest of the year", says Brækkan.

As usual, transit and processing markets dominate among the destination countries. From Denmark, the Netherlands and Poland, the cod is transported on to our main consumer markets, primarily in the EU and the UK.

Frozen cod: Volume to the UK halved

  • Norway exported 2,061 tonnes of frozen cod worth NOK 211 million in May
  • The value fell by NOK 68 million, or 24 per cent, compared with the same month last year
  • The volume fell by 37 per cent
  • The UK, Vietnam and China were the largest markets for frozen cod in May

Volume to our largest frozen market, the UK, was almost halved last month, to just 610 tonnes.

"As in all other cod markets, the UK is also facing challenges in securing sufficient supplies of cod. Low volumes and high prices are making other species more attractive", says seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council.

Alternative species are replacing cod

In the UK market, imports and consumption of South African hake, among other species, have increased recently.

“Although hake still accounts for a low level of consumption compared to cod, this trend illustrates how the value chains are working to retain consumers by offering alternative species when there is not enough cod available in the market,” explains Brækkan.

Clipfish: Lowest export volume in 27 years

  • Norway exported 2,060 tonnes of clipfish worth NOK 226 million in May
  • The value fell by NOK 114 million, or 34 per cent, compared with the same month last year
  • The volume fell by 44 per cent
  • Portugal, Brazil and Congo-Brazzaville were the largest markets for clipfish in May

For clipfish made from saithe, the export volume fell by 37 per cent to 1,025 tonnes, whilst the export value fell by 19 per cent to NOK 76 million.

For clipfish made from cod, export volume fell by 55 per cent to 661 tonnes, whilst export value fell by 43 per cent to NOK 120 million.

“We must go back to 1999 to find a lower export volume of clipfish in a single month. The main reason is a shortage of raw material. Low cod quotas and poor saithe catches mean there is far less raw material available for clipfish production,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.

Brazil saw the largest increase in value in May, with a rise in export value of NOK 5 million, or 21 per cent, compared with the same month last year.

Export volume to Brazil stood at 245 tonnes, which is 18 per cent lower than in the same month last year.

Salted fish: Historically low volume for a May

  • Norway exported 2,587 tonnes of salted fish worth NOK 387 million in May
  • The value fell by NOK 21 million, or 5 per cent, compared with the same month last year
  • The volume fell by 25 per cent
  • Portugal, Canada and Spain were the largest markets for salted fish in May

For salted fish too, where cod dominates with over 90 per cent of exports, volumes in May were historically low.

“With the exception of the Covid year 2020, we have to go back to 2009 to find a lower export volume for salted fish in a month of May. So far this year, the export volume is the lowest recorded since 1990,” says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.

Portugal remains the dominant market for salted cod. In May, 99 per cent of exports ended up there,

Volumes to Portugal fell by 22 per cent, whilst a sharp rise in the export price meant that the export value fell by just 1 per cent, to NOK 370 million.

Stockfish: Exports to Italy have slowed

  • Norway exported 87 tonnes of stockfish worth NOK 16 million in May
  • The value fell by NOK 39 million, or 71 per cent, compared with the same month last year
  • The volume fell by 58 per cent
  • Italy, Nigeria and the UK were the largest markets for dried fish in May

Dried tusk was the largest product by volume in May, at 35 tonnes, whilst only 27 tonnes were dried cod.

“Consequently, little stockfish went to our largest market, Italy, last month. Only 16 tonnes of cod stockfish were exported there in May, worth NOK 7 million. This represents a decline of 82 per cent in volume and 78 per cent in value”, says seafood analyst Eivind Hestvik Brækkan at the Norwegian Seafood Council.

Nigeria saw the biggest increase in value in May, with a rise in export value of NOK 3 million, or 116 per cent, compared with the same month last year.

Export volume to Nigeria stood at 45 tonnes, which is 76 per cent higher than in the same month last year.

Herring: Prices falling for many products

  • Norway exported 7,123 tonnes of herring worth NOK 161 million in May
  • The value fell by NOK 28 million, or 15 per cent, compared with the same month last year
  • The volume fell by 16 per cent
  • Poland, Lithuania and Germany were the largest markets for herring in May

“After four very strong months, herring exports fell in May compared with the same period last year. The North Sea herring season barely got underway towards the end of the month and had little impact on exports,” says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.

For many herring products, prices are falling in Norwegian kroner but rising in euros. A clear exception is whole frozen North Sea herring. Here, the price has risen from NOK 19.55 per kg last year to NOK 26.15 per kg this year.

“Although volumes remain low, it is interesting to see that herring exports to Japan continue to rise. A shortage of mackerel and high mackerel prices in the market mean that many players are now importing herring, says Johnsen.

Mackerel: Lowest export volume in 13 years

  • Norway exported 4,306 tonnes of mackerel worth NOK 231 million in May
  • The value increased by NOK 25 million, or 12 per cent, compared with the same month last year
  • The volume fell by 25 per cent
  • The US, Vietnam and South Korea were the largest markets for mackerel in May

“Mackerel exports continued to fall in May as well, and we have to go back to 2013 to find lower volumes. The price of whole frozen mackerel under 600 grams, which is by far the largest export product, has stabilised in Norwegian kroner. However, the strengthening of the Norwegian krone means that mackerel is becoming increasingly expensive in many markets”, says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.

Rising demand in the US

In May, the price of whole frozen mackerel over 600 grams was lower than for the same product under 600 grams.

“This is due to increased catches and exports of large mackerel, for which there is far less demand than for smaller mackerel,” explains Johnsen.

The US tops the list of markets for whole frozen mackerel in May, and ranks second so far this year after South Korea.

“This is partly due to the US having a preference for large mackerel, of which there is now more available, growing demand among Asian consumers in the US, and the fact that competing products have become more expensive,” says Jan Eirik Johnsen.

King crab: Lower catches and a drop in volume

  • Norway exported 59 tonnes of king crab worth NOK 31 million in May
  • The value fell by NOK 24 million, or 44 per cent, compared with the same month last year
  • Volume fell by 55 per cent
  • The US, Japan and Italy were the largest markets for king crab in May

King crab exports in May were characterised by lower catches and a fall in volume, particularly for live king crab.

“Due to the closed season in the quota area, May is normally the weakest month for exports. This year, the period was also extended from March to May, which has resulted in lower availability of large king crab and a higher proportion of smaller crabs,” says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.

Challenging market

Exports of live king crab fell by 77 per cent in volume in May, to 15 tonnes.

“The decline in exports to the US is noticeable, for both live and frozen crab. Lower supply is the main explanation, but the market, particularly in the US, also appears more demanding than before, both in terms of demand and increased competition from Japan and Chile,” explains Voraa.

A larger proportion of the volumes is therefore going to alternative markets in Asia.

“Higher prices are helping to cushion the decline in value, despite the fact that a stronger Norwegian krone is pulling in the opposite direction”, says Josefine Voraa.

Snow crab: Lower prices than last year

  • Norway exported 974 tonnes of snow crab worth NOK 159 million in May
  • The value fell by NOK 62 million, or 28 per cent, compared with the same month last year
  • The volume fell by 9 per cent
  • The US, Denmark and Canada were the largest markets for snow crab in May

Exports of snow crab in May were slightly lower in volume than last year, whilst the export value fell more significantly as a result of lower prices.

“This trend must be viewed in the context of high export levels in May last year, whilst lower landings in April this year have resulted in lower volumes available for export. Prices were also significantly lower than last year, with a drop in the export price from NOK 206 per kg to NOK 163 per kg, says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.

The US remains the largest market for Norwegian snow crab and accounted for around 63 per cent of the volume in May, but at significantly lower prices than the previous year.

“Prices are under pressure from increased supply and a more cautious market. Canada, which started the season later than usual, has landed large volumes in a short space of time, which has intensified competition and put pressure on prices – particularly for the smaller sizes”, explains Josefine Voraa.

Prawns: Volume growth and record-high export value

  • Norway exported 3,676 tonnes of prawns worth NOK 238 million in May
  • The value increased by NOK 66 million, or 38 per cent, compared with the same month last year
  • This represents a 13 per cent increase in volume
  • China, Iceland and Denmark were the largest markets for prawns in May

Exports in May were driven by both volume growth for frozen prawns and a record-high export value for prawns in a single month. It was NOK 16 million higher than in the previous record month, which was June last year.

“The growth was largely driven by raw frozen prawns, particularly to China, where demand for prawns for raw consumption is high. This has led to a larger proportion of the catch going to this segment, whilst raw material prices have risen significantly,” says Josefine Voraa, head of shellfish at the Norwegian Seafood Council.

Challenging times for the industry

China saw the highest volume growth in May. Export volume to China stood at 1,701 tonnes, which is 54 per cent higher than the same month last year.

"For the industry, this creates a more challenging situation. The supply of raw materials for further processing has decreased, whilst exports of raw frozen product to the industry in countries such as Iceland and Denmark increased in May. This contributes to a further restriction in the supply of raw materials for the Norwegian fishmeal industry", says Josefine Voraa.

The trend of rising export prices in Norwegian kroner points to a tight global market, where demand in China is high, whilst Canadian volumes are increasingly being directed towards other markets due to high tariffs on exports to China.