Industry Overview Ahead of the Norway–UK Seafood Summit

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The global seafood industry has faced its fair share of challenges this year, particularly for Norwegian seafood exports. However, the UK market is showcasing resilience and continued growth. The upcoming Norway–UK Seafood Summit presents an opportunity to explore strategies for further collaboration and to bolster momentum within the sector.

Market Dynamics

January’s market performance illustrates the volatility in global seafood trade. Norwegian seafood exports saw a decline of 3% compared to the same month last year, primarily due to lower salmon prices, a strengthening Norwegian krone, and a steep 37% drop in export value to the US market.

Conversely, the UK market bucked the trend, with export value from Norway increasing by 2% in January. This growth underscores the UK’s significance as a reliable and strategically important destination for Norwegian seafood.

Key Species Driving Growth

The increase in exports to the UK is largely attributed to two key species:

• Salmon – The flagship of Norwegian seafood, expected to sustain its growth trajectory.
• Haddock – A staple of the British Fish & Chips tradition and crucial to the UK whitefish market.

Cod Exports: A Complex Situation

Meanwhile, cod exports face challenges due to reduced wild-caught quotas, which impact availability in the UK. On a positive note, farmed cod exports experienced a remarkable increase, rising from just 1 tonne last January to 48 tonnes this year, marking the introduction of aquaculture cod into the market. Although supply issues may persist until 2026, scientific predictions suggest that quotas could begin to rise by 2027, signaling potential for future expansion and opportunities for the Norwegian seafood sector.

Insights from Bjørn-Erik Stabell, UK Director at the Norwegian Seafood Council

Image Credit: ©Fish Focus