Sets new sales record

Surofi (Sunnmøre og Romsdal Fiskesalslag) sells whitefish and shellfish from Norwegian and foreign fishermen landed in Sunnmøre og Romsdal.

The turnover value in 2024 is nearly NOK 400 million higher than the previous record from 2022. It is driven by increased quantity and rising prices.

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Main points:

• A total of 156,434 tonnes of fish and shellfish (converted to round weight) were traded, an increase of 10 percent.
• Price inflation, especially in the latter half of the year.

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Higher turnover than expected

Even with significant quota reductions for cod and haddock, the total quantity increased by almost 14,000 tonnes. Most of the increase is for saithe. The quota reduction also led to more fishing and landings of other species, such as tusk and ling.

Saithe accounts for by far the largest share of the landed quantity, with 43 percent of the total last year. This is despite the fact that fishing off the Møre coast has been significantly reduced compared to historical levels.

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Currency and market strengthen prices

The prices of whitefish are strongly influenced by the currency situation, as the majority of the products are exported. A weak Norwegian krone throughout 2024 contributed to higher prices for the fleet and the seafood industry than they otherwise would have been.

Lower quotas created increased competition, which drove up prices for several species. Prices for cod and haddock increased by an average of 20 percent and 26 percent, respectively. For saithe, prices have increased significantly in the latter half of 2024.  

Uncertain outlook for 2025

Although continued good demand and a historically high price level are expected, further quota reductions in 2025 will likely reduce sales. Price increases alone cannot be expected to compensate for reduced volumes.

Turnover last 10 years (Surofi)

Average price per kg. of important fish species last 10 years (Surofi)