Shrimp Price in Norway - 2023
Contents:
- Shrimp Price in Norway (CIF) - 2023
- Shrimp Price in Norway (FOB) - 2023
- Shrimp Imports in Norway
- Shrimp Exports in Norway
Shrimp Price in Norway (CIF) - 2023
In July 2023, the average shrimp import price amounted to $7,733 per ton, surging by 12% against the previous month. In general, the import price, however, saw a noticeable descent. The growth pace was the most rapid in October 2022 an increase of 62% m-o-m. Over the period under review, average import prices reached the peak figure at $11,822 per ton in December 2022; however, from January 2023 to July 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Estonia ($20,071 per ton), while the price for Faroe Islands ($2,401 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Estonia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Norway (FOB) - 2023
In July 2023, the average shrimp export price amounted to $5,716 per ton, picking up by 68% against the previous month. In general, the export price continues to indicate a noticeable increase. The growth pace was the most rapid in December 2022 when the average export price increased by 70% m-o-m. Over the period under review, the average export prices hit record highs at $6,149 per ton in May 2023; however, from June 2023 to July 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Sweden ($10,693 per ton), while the average price for exports to Denmark ($3,894 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Norway
In 2022, shrimp imports into Norway rose modestly to 16K tons, surging by 4.5% compared with 2021. Overall, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 with an increase of 5% against the previous year.
In value terms, shrimp imports stood at $123M in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 8.2% against the previous year.
| Import of Shrimp in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 27.1 | 26.9 | 31.2 | 30.2 | 3.7% |
| Greenland | 28.8 | 31.5 | 27.6 | 28.0 | -0.9% |
| Canada | 15.4 | 13.2 | 17.5 | 17.0 | 3.3% |
| Denmark | 12.3 | 12.5 | 14.4 | 13.9 | 4.2% |
| Faroe Islands | 6.8 | 4.1 | 5.4 | 5.2 | -8.6% |
| United States | 5.5 | 2.6 | 2.5 | 3.4 | -14.8% |
| Estonia | 4.1 | 2.8 | 3.1 | 3.2 | -7.9% |
| Russia | 4.2 | 1.8 | 1.6 | 2.4 | -17.0% |
| Lithuania | 1.8 | 1.4 | 0.7 | 1.2 | -12.6% |
| Others | 18.0 | 16.1 | 18.0 | 18.0 | 0.0% |
| Total | 124 | 113 | 122 | 123 | -0.3% |
Top Suppliers of Shrimp to Norway in 2022:
- Greenland (4.1K tons)
- Vietnam (2.6K tons)
- Canada (1.9K tons)
- Faroe Islands (1.8K tons)
- Denmark (1.7K tons)
- Russia (1.1K tons)
- Estonia (0.4K tons)
- Lithuania (0.3K tons)
- United States (0.3K tons)
Shrimp Exports in Norway
In 2022, approx. 5.6K tons of shrimps were exported from Norway; remaining relatively unchanged against the previous year's figure. Over the period under review, exports, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 71%.
In value terms, shrimp exports expanded slightly to $30M in 2022. In general, exports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 46%.
| Export of Shrimp in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 12.6 | 11.6 | 13.8 | 13.9 | 3.3% |
| Iceland | 13.7 | 1.4 | 8.9 | 9.0 | -13.1% |
| Denmark | 2.2 | 2.1 | 1.3 | 1.8 | -6.5% |
| Ukraine | N/A | 1.2 | 1.7 | 1.7 | 19.0% |
| China | 1.5 | 1.3 | 0.9 | 1.2 | -7.2% |
| United States | N/A | 0.6 | 0.6 | 0.6 | 0.0% |
| Taiwan (Chinese) | 0.6 | 0.6 | 0.3 | 0.5 | -5.9% |
| Others | 0.8 | 1.2 | 1.8 | 1.5 | 23.3% |
| Total | 31.6 | 20.0 | 29.2 | 30.2 | -1.5% |
Top Export Markets for Shrimp from Norway in 2022:
- Iceland (3049.4 tons)
- Sweden (981.0 tons)
- Denmark (488.1 tons)
- Ukraine (399.4 tons)
- China (266.7 tons)
- United States (127.8 tons)
- Taiwan (Chinese) (96.9 tons)
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