Photo: Norwegian Seafood Council

Market situation for Norwegian coldwater prawn

NORWAY
Monday, June 10, 2024, 01:10 (GMT + 9)

Strong growth for prawn

• Norway exported 5,138 tonnes of prawn worth NOK 205 million in May
• The value increased by NOK 93 million, or 82 percent, compared with the same month last year.
• This is a growth in volume of 265 percent
• Iceland, Sweden, and Canada were the largest markets for prawns in May

There is good fishing in the Barents Sea, which has led to increased landings and increased exports of frozen, cooked shell prawns and frozen, raw industrial prawns.

This has led to a record high export value for prawns in a single month, NOK 11 million higher than the previous record month in March 2001.

Largest export volume in 24 years

"The world record is mainly volume-driven. We have to go back to June 2000 to find a larger export volume for prawn in a single month," says Marte Sofie Danielsen, Head of Shellfish at the Norwegian Seafood Council.

Frozen IQF prawns Northern Light brand. Photo: Coldwater Prawns of Norway AS ---->

Growth for frozen industrial prawns and frozen cooked in-shell prawns

More than 3,000 tonnes of frozen industrial prawn have been exported, compared to nothing in May 2023.

“This has mainly gone to Iceland and Canada, both of which have reduced their quotas," explains Danielsen.

Iceland thus had the highest value growth in May, with an export value of NOK 35 million, compared with nothing the year before. The export volume ended at 1,739 tonnes.

“In addition, exports of frozen, cooked shell prawn have more than doubled, setting a record in terms of value for a single month. However, the price has fallen by around NOK 13 per kg compared with May last year," says Marte Sofie Danielsen.

Frozen, cooked shell prawns to a value of NOK 47 million were exported in May, most of which went to Ukraine, Denmark, and Morocco.

Record month for fresh shell prawn

“Coastal fishing was also good in May, and fresh shell prawns had their strongest May ever, both in terms of volume and value. Exports totaled NOK 4.7 million more than the previous May record, which was last year," explains Danielsen.

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