Photo: Norwegian Seafood Council

Norwegian Crab and Cold-Water Prawn Exports Surge in February

NORWAY
Monday, March 10, 2025, 00:10 (GMT + 9)

February Sees Notable Increases in Crab and Prawn Exports

Record-Breaking Month for King Crab

• Norway exported 223 tons of king crab worth NOK 183 million in February
• The value increased by NOK 87 million, or 91 percent, compared to the same month last year.
• There is a growth in volume of 32 percent
• The United States, China and Canada were the largest markets for king crab in February.

Norway exported 223 tonnes of king crab, valued at $17.2 million USD (NOK 183 million), in February., in February. This represents a 32% increase in volume and a 91% increase in value, or $8.2 million USD (NOK 87 million), compared to the same month last year. The United States, China, and Canada were the primary markets.

A 55% quota increase and strong demand in the U.S. market have driven increased landings in the first two months of the year. February's exports were among the highest ever for king crab, with an export value just slightly below the record set in August 2023, despite a significantly lower volume.

"Limited king crab availability in the U.S. market has resulted in record-high export prices for frozen king crab in February," stated Josefine Voraa, Head of Shellfish at the Norwegian Seafood Council. The average price reached $93 USD per kg (NOK 985 per kg), surpassing the previous record from January 2025.

The export volume to the U.S. increased by 61% to 143 tonnes, with 96% of frozen king crab exports destined for the U.S. market. "Americans continue to have a strong appetite for king crab, despite high prices and market volatility," noted Anne-Kristine Øen, the Norwegian Seafood Council's envoy to the USA. "Many are likely securing volumes from Norway before the two-month fishing break preceding the May resumption."

Snow Crab Exports Reach Record Value Despite Volume Decline

• Norway exported 1,923 tons of snow crab worth NOK 473 million in February
• The value increased by NOK 188 million, or 66 percent, compared to the same month last year.
• Volume fell by 26 percent
• The US, Denmark and Japan were the largest markets for snow crab in February

Norway exported 1,923 tonnes of snow crab, valued at $44.6 million USD (NOK 473 million), in February. This represents a 66% increase in value, or $17.7 million USD (NOK 188 million), despite a 26% decrease in volume compared to the same month last year. The U.S., Denmark, and Japan were the leading markets.

February saw record-high snow crab export values, exceeding the previous record from February 2024. "While landings and export volumes were 26% higher last February, prices were significantly lower," Voraa explained.

"A shortage of snow crab in U.S. stocks and an anticipated quota reduction in Canada have increased demand for Norwegian snow crab and driven up prices across all sizes," Øen added.

Norway and Alaska are currently the sole suppliers of snow crab to the U.S. market. "The first volumes from this year's fishery have arrived, but larger volumes from Norway will arrive around mid-March," Voraa stated.

The U.S. was the largest recipient of snow crab in February, accounting for 51% of exports, and the largest growth market, with an 85% increase in export value. The export volume to the U.S. was 971 tonnes, 11% lower than last year.

Strong February for Cold-Water Prawns

• Norway exported 2,827 tons of shrimp worth NOK 155 million in February
• The value increased by NOK 47 million, or 43 percent, compared to the same month last year.
• There is a growth in volume of 88 percent
• Denmark, Sweden and the UK were the largest markets for shrimp in February

Depth=China

Norway exported 2,827 tonnes of prawns, valued at $14.6 million USD (NOK 155 million), in February. This represents an 88% increase in volume and a 43% increase in value, or $4.4 million USD (NOK 47 million), compared to the same month last year. Denmark, Sweden, and the U.K. were the primary markets.

February was a strong month for prawn exports, with frozen raw industrial prawn exports to Iceland and Denmark showing the greatest volume and value growth. "With declining supplies from Greenland, Danish imports and exports are increasingly being replaced by cold-water prawns from other suppliers," Voraa noted. "A significant portion of frozen, cooked shell-on prawns were also sent to Denmark for further distribution."

Peeled prawns were the largest product segment, with an export value of $6.7 million USD (NOK 71 million), an increase of $1.8 million USD (NOK 19 million) from February last year. The export volume was 722 tonnes, with the U.K. being the largest recipient. "The U.K. continues to grow as a prawn market and is now the largest market for Norwegian peeled prawns this year," Voraa concluded.

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