The Seafood Council’s CEO Christian Chramer said in his latest monthly report that while Europe remains the largest market for Norwegian seafood, there are signs of a shift in demand.
68% of Norwegian seafood is exported to Europe, Asia 21% and North America 9%.
“We are seeing a shift in Norwegian seafood exports from Europe to overseas markets such as Asia and North America. In May we had the lowest European value share (comparing May year on year),” Chramer said.
“China had the greatest value growth in May, with an increase in value of NOK 218 million (EUR 18.5 million) or 83% on the same period last year,” seafood analyst Paul T. Aandahl added.
The Seafood Council also reports that the demand for salmon in China is on the rise. The sales have gone up 86% compared to last year.
But as the Seafood Council’s China Director Andreas Thorud points out, May 2022 was affected by a full shutdown in Shanghai and uncertainty in the market due to Covid.
“The re-opening in China has created a strong demand for salmon that has continued,” Thorud added.
The strongest Chinese demand also appears to be coming from the hotel, restaurant and canteen sector. Still, the grocery trade is also on the rise and there is a growing demand for salmon outside the large cities.
According to the report, similar growth pattern is emerging in other Asian markets such as Korea and Thailand.
Source: fishfarmermagazine.com
