Prawn Exports Decline While Cod Exports Surge by Nearly 70%
Dinghy fishermen cast their lines for cod off the coast of Tasiilaq. Archive photo: Oscar Scott Carl
Preliminary figures for fish exports indicate a complex landscape for the industry in the early months of this year. Statistics Greenland reports that from January to October, the export value rose to DKK 4.207 billion, marking an increase of DKK 185 million, or 4.6% compared to the same period last year.
However, it’s essential to approach these figures with caution, as they are preliminary and subject to revision, as noted by Statistics Greenland.
A Remarkable Rise in Cod Exports
The standout performer among fish exports has been cod, whose export value soared by an impressive 69.6%. This significant rise stems from a combination of a 48% increase in the quantity of cod caught and a 14.6% uptick in the price per kilogram.
In stark contrast, the most crucial export species—shrimp—suffered a decline of 12.9%, which translates to a DKK 266 million drop in export value. This decrease can primarily be attributed to reduced catch volumes.
Halibut also experienced a slight downturn, with exports dipping by 1.1%.
The rise in cod exports has played a crucial role in offsetting the overall decline, demonstrating the dynamic nature of Greenland’s fishing industry. As illustrated in the graphic below, cod has increasingly become a significant contributor to the nation’s export economy, asserting its presence amid the fluctuations of other species.
Graphics: Greenland Statistics
This shifting landscape underscores the unpredictable nature of the fishing industry, with certain species thriving while others falter. As Greenland navigates these changes, the focus remains on adapting to both the challenges and opportunities presented by evolving market conditions.