Norway King Crab was established in 2007 and is today market leader within catch and supply of live King Crabs

International market situacion for Norwegian crab and coldwater prawn

Best February ever for king crab

• Norway exported 170 tonnes of king crab worth NOK 97 million (U$D 9.24M) in February
• The value increased by NOK 17 million, or 21 per cent, compared to February last year.
• Volume fell by 1 per cent.
• USA, Spain, and Canada were the largest markets for king crab in February.

This is the highest export value for king crab in a February ever.

Photo: courtesy Lerøy Arctic Shellfish

The growth in value is driven by a 225 per cent increase in volume for frozen king crab and a 38 per cent increase in price for live king crab.

Record high price for live king crab

The price of live king crab reached a record high of NOK 632 per kg in February. This is seven kroner higher than the previous record month, which was in May 2022.

“In the run-up to the Chinese New Year, demand for live king crab for Chinese communities in the US has been high. Together with a lower supply because of the sanctions against Russian crab, this has led to a price increase," says Marte Sofie Danielsen, Manager for Shellfish at the Norwegian Seafood Council.

Biggest growth in the USA

The US saw the largest growth in value this month, with an increase in export value of NOK 42 million (U$D 3.99M), or 304 per cent, compared to the same month last year.

The export volume to the USA ended at 94 tonnes, which is 210 percent higher than in February last year.

Photo: courtesy Lerøy Arctic Shellfish

Record-breaking month for snow crab

• Norway exported 2,615 tonnes of snow crab worth NOK 285 million in February
• The value increased by NOK 170 million, or 148 per cent, compared to February last year.
• This is a growth in volume of 131 per cent.
• The USA, the Netherlands and Japan were the largest markets for snow crab in February.

Good fishing and increased quotas have led to a record-high export value for snow crab in a single month, NOK 84 million higher than the previous record month, which was in July 2021.

Less than 25 per cent of the total quota for snow crab now remains.

Photo: courtesy Lerøy Arctic Shellfish

Strong volume growth

“The growth in value is driven by a volume growth of 1,485 tonnes, as well as a small price increase for both frozen and live snow crab. In February, the export value of live snow crab reached a record high of over NOK 1.4 million (U$D 138.089). Five tonnes of live snow crab were exported, mainly to South Korea", says Marte Sofie Danielsen, Manager for Shellfish at the Norwegian Seafood Council.

The USA had the largest value growth this month, with an increase of NOK 95 million (U$D 9M), or 296 per cent, compared with the same month last year. The export volume to the US ended at 1,090 tonnes, which is 291 per cent higher than the same month last year.

Growth in value and fall in volume for coldwater prawn

• Norway exported 1,498 tonnes of prawn worth NOK 108 million (U$D 10.28M) in February
• The value increased by NOK 20 million (U$D 1.9M), or 23 per cent, compared to February last year
• Volume fell by 3 per cent
• Denmark, Sweden, and the UK were the largest markets for prawn in February

Exports of frozen peeled prawn in packs over and under 2 kg represented the highest value for prawn in February, with almost NOK 50 million (U$D 4.76M).

“This is a decrease of 2 per cent compared with February last year, which is due to lower volumes. The largest market for frozen peeled prawn was the UK, which has an increase of 19 per cent compared to the same month last year," says Marte Sofie Danielsen, Manager for Shellfish at the Norwegian Seafood Council.

Highest value growth for cooked shell-on prawn

Exports of frozen, cooked prawn, on the other hand, saw the greatest growth in value this month, with an increase of NOK 41 million (U$D 3.90M), or 778 per cent, compared with the same month last year.

Exports of fresh shell-on prawn follow suit, with growth of NOK 1.5 million (U$D 142.854), or 24 per cent. At the opposite end, frozen raw industrial prawn contribute the largest decline in value, with a decrease of NOK 18 million (U$D 1.71M), or 97 per cent.

"The Danish hub market had the highest value growth for prawn in total this month, with an increase of NOK 29 million (U$D 2.76M), or 413 per cent, compared to the same month last year," Danielsen explains.

The export volume to Denmark ended at 645 tonnes, which is 413 per cent higher than in February last year. Most of this was frozen, cooked shell-on prawn.

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