Norway October Seafood Exports Reach 18.2 Billion NOK; Salmon Sets Single-Month Record(Nov 5)

Norway October Seafood Exports Reach 18.2 Billion NOK; Salmon Sets Single-Month Record

On November 4, the Norwegian Seafood Council released October export data. Norway exported seafood worth 18.2 billion NOK in October, down 48 million NOK from October 2025, essentially flat year-on-year. Salmon export value set a new single-month record, but declining export volumes and values for cod, mackerel, and other wild-caught species weighed on overall category growth.

Overall Performance

Christian Chramer, CEO of the Norwegian Seafood Council, noted that October seafood exports showed clear divergence. Export prices rose for cod, mackerel, trout, saithe, herring, and shrimp, but the Norwegian krone strengthened against the same period last year, affecting export values calculated in NOK. In both USD and EUR terms, the krone was notably stronger in October than in October 2025.

From January to October 2026, cumulative Norwegian seafood exports reached 151.3 billion NOK, up 2.2 billion NOK or 1% from the same period in 2025. Farmed fish exports in October reached 13.8 billion NOK, accounting for 76% of total seafood export value, up from 72% in October 2025. The shift was primarily driven by increased salmon exports and reduced cod and mackerel exports.

Salmon: Record-Breaking Month

Salmon was the largest source of growth in October seafood exports. Monthly export volume reached 159,810 tons, with export value of 13 billion NOK, up 734 million NOK or 6% year-on-year; export volume grew 9%. This export value surpassed the previous record set in September 2026 by 264 million NOK. Poland, the Netherlands, and France were the top three markets for Norwegian salmon in October.

Poland stood out notably. In October, Norway exported 32,664 tons of salmon to Poland, up 15% year-on-year, with export value increasing by 246 million NOK or 12%, the largest value gain among all markets. In the first ten months of 2026, Norwegian salmon exports to Poland reached 225,000 tons, up 27% year-on-year, with export value of 5.2 billion NOK, up 5%.

Market analyst Paul T. Aandahl of the Norwegian Seafood Council noted that Poland is seeing growth not only in salmon imports but also in domestic consumption and re-exports. In 2026, Polish household salmon consumption grew 19%, while export volume grew 10%. Improved purchasing power has also driven local consumer market growth.

Trout: Divergent Volume and Value

Trout exports showed divergent volume and value trends. In October, Norway exported 6,954 tons of trout with export value of 629 million NOK, down 64 million NOK or 9%; export volume declined 15%. Poland, the United States, and Thailand were the main markets. Exports to Poland performed well, with volume of 1,935 tons, up 74% year-on-year, and value increasing by 78 million NOK or 87%.

Wild-Caught Species Under Pressure

Wild-caught species faced more pronounced pressure. Since 2026, low fishing quotas for multiple species have reduced raw material supply, pushing export prices for some products to historic highs. The Norwegian Seafood Council emphasized that high prices do not necessarily mean improved operating conditions for processing companies: quota reductions mean less raw material available for purchase, higher procurement costs, and continued pressure to maintain production and enhance processing value.

Mackerel saw particularly sharp declines. In October, Norway exported 13,787 tons of mackerel worth 758 million NOK, down 50% and 45% year-on-year respectively. Despite the sharp volume decline, the average export price of whole frozen mackerel still reached 54 NOK per kilogram, a historic high, up 10% from October 2025. The Norwegian Seafood Council attributed the volume decline to quota reductions and insufficient raw material available for export.

Top Ten Export Markets

Among the top ten Norwegian seafood export markets in October, Poland ranked first with 2.75 billion NOK, up 13% year-on-year; the United States at 1.2 billion NOK, down 11%; China at 1.16 billion NOK, up 12%; the Netherlands at 1.15 billion NOK, up 5%. France recorded 1.05 billion NOK, flat year-on-year; Denmark 952 million NOK, down 3%; the United Kingdom 903 million NOK, flat; Spain 890 million NOK, up 4%; Portugal 730 million NOK, down 15%; and Italy 656 million NOK, down 4%.

The decline in U.S. export value was primarily driven by reduced fresh and frozen salmon fillet export volumes. China and Poland continued their growth trends from earlier in the year.

Outlook

Norwegian seafood export values in November and December will continue to be influenced by fishing quotas, wild fish raw material supply, and exchange rate movements. For cod and mackerel processors, the remaining quota-linked raw material availability and European market purchasing patterns ahead of the Christmas season will be key variables for upcoming export performance.