The Norwegian shrimp sector is experiencing unprecedented growth in cold water shrimp exports, according to the latest data from Norway Statistics. Between January and November this year, total exports soared to 23,862 MT—a staggering 138% increase compared to the same period last year. In May alone, a record-high 4,171 MT of Pandalus Borealis shrimp were shipped overseas, setting the tone for a six-month stretch (May to October) in which monthly exports stayed well above 2,600 MT.
Key Destinations Shaping Cold Water Shrimp Trade
The major processing hubs—Iceland, Canada, and Denmark—lead demand for Norwegian cold water shrimp. Iceland currently absorbs nearly one-third of exports, followed by Canada at 26%, and Denmark at 15%. This marks a dramatic shift from previous years. In 2023, Canada accounted for only 1% of Norwegian shrimp imports, underscoring how quickly trade flows can evolve due to market forces such as reduced Canadian and Greenland supplies.
Environmental Factors and Future Outlook
Warmer water temperatures and a rise in key predators like redfish and cod are partly responsible for Norway’s brisk cold water shrimp exports this year. Although lower total allowable catch (TAC) numbers for cod in the Barents Sea could theoretically lead to higher cod populations—and thus increased predation on shrimp—industry sources remain hopeful. They view this year’s success as a sign that Norwegian cold water shrimp will continue to find strong demand abroad.
Implications for Buyers
For businesses sourcing commodities data or establishing new seafood supply chains, Norway’s performance in cold water shrimp exports offers valuable lessons. Suppliers who can adapt to shifting predator dynamics, environmental factors, and global demand patterns are well-positioned to secure more consistent product availability. By leveraging comprehensive market intelligence, B2B buyers can gain visibility into emerging trends, identify new trade opportunities, and mitigate risk in a rapidly changing seafood sector.
How Our Data Can Help
As a leading data provider in agriculture, protein, and commodities, we offer real-time insights into volume shifts, export destinations, and evolving market conditions. Access to detailed statistics on cold water shrimp exports can guide procurement strategies, help pinpoint reliable suppliers, and optimize pricing models. Contact us to learn how our data-driven solutions can bolster your competitive edge in the seafood marketplace.
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