After record year, Norwegian Seafood Council says industry must still be prepared for “tougher times”

Member of Norway's seafood industry on stage at the Norwegian Seafood Council's annual conference
Member of Norway's seafood industry said it should be prepared for the challenges it could face in 2025 and beyond | Photo courtesy of the Norwegian Seafood Council
6 Min

Norway’s seafood industry broke several records in 2024, but the Norwegian Seafood Council (NSC) and members of the seafood industry said to remain prepared for potentially tougher times given multiple uncertainties about the future.

According to NSC statistics, the country exported a record-breaking NOK 175.4 billion (USD 15.5 billion, EUR 14.9 billion) worth of seafood products in 2024 – NOK 3.7 billion (USD 327 million, EUR 315 million) over its exports in 2023. Those increases were in part thanks to solid salmon prices and expanding markets in parts of the world.

Despite that increase, the NSC and multiple figures in the seafood industry – at the NSC’s recent annual conference – cautioned the industry and told it to prepare for tougher times as quota cuts, production challenges for salmon, climate change, geopolitical challenges, and economic turmoil could all change things quickly.

“Many of these challenges will likely continue into 2025, and perhaps for several years to come,” the NSC said in a press release.

The cod fishery is one example where the challenges are all-but-certain to continue. The Barents Sea cod quota was cut by over 30 percent for the 2025 fishing season, which was itself on top of a previous 20 percent cut in 2024. That quota, too, was a far cry from the 885,600 metric ton quota the fishery had in 2021

The consistent quota cuts showed in the performance of cod in 2024, with the lowest export volume since 2011...


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