Norway’s frozen cod exports drop in first half of the year

Norway exported 21,569 tonnes of frozen cod worth NOK 1.8 billion (£130 million) in the first half of 2025, a 35% drop in volume and a 10% fall in value compared to the same period last year, according to the Norwegian Seafood Council.

The decline represents a NOK 190 million (£14 million) decrease in export value. The UK, China and Vietnam remained the largest markets for Norwegian frozen cod.

The downturn is in contrast to the overall performance of Norwegian seafood exports, which totalled 1.3 million tonnes, setting an export record of NOK 85.2 billion (£6.2 billion). This is equivalent to a volume of 36 million meals every single day. 

The UK was the fifth largest importer of Norwegian seafood in value terms (NOK 5,1 billion, an increase of 20%), behind USA, Poland, China and Denmark.

Explaining how the whitefish sector has been characterised by reduced quotas and increased prices throughout the spring, Victoria Braathen, UK director of the Norwegian Seafood Council, comments: “A significant proportion of Norwegian frozen cod and haddock is exported to the UK, where the fish and chips segment is under pressure because of higher costs and continued consumer restraint.

“Despite this, it is positive that Norwegian seafood maintains a strong market position in the UK, with growth in exports of both cod and haddock in June.”

The figures reveal the price of frozen cod fillets is at a record high of NOK 132 per kg (£10 per kg). This is NOK 11 per kg (80p per kg) higher than the previous record, which was in the second half of 2024. The price of frozen whole cod is also at a record high of NOK 80 per kg (£6 per kg), NOK 9 per kg (65p per kg) higher than the previous record half-year, which was in the second half of 2024.

Victoria continues: “Exports of frozen cod have also been affected by the reduction in quotas. The UK is once again our largest market, with a smaller decline in export volume than other markets.

“Competition for access to cod is increasing in line with lower quotas, and developments in our traditionally largest market, the UK, once again show that they still want their fish and chips. However, the industry is experiencing significant challenges with higher costs and a price level that is contributing to a decline in consumption.

“US tariffs against China have affected the flow of goods for frozen cod. China is still the second-largest market for frozen cod, followed by Vietnam in third place. Both China and Vietnam are processing markets for frozen cod, and both re-export most of it as frozen fillets to the USA and Europe.”