February 2025 saw fluctuations in seafood prices and consumption trends in Europe. Some seafood products maintained their growth momentum while others experienced a slight decline, especially due to the influence of seasonal factors and consumption trends. Below is an overview of the European seafood market situation in February 2025, compared to January 2025 and January 2024.

Cod

Skei cod, a high-quality wild-caught cod, continues to be popular in the European market. In January 2025, this product set a new record, accounting for 25% of the value of fresh wild cod exports. Compared to January 2024, fresh cod exports from Norway decreased slightly by 7% in volume and 3% in value. However, a notable change is the strong rise of farmed cod. Fresh farmed cod exports increased by 62% compared to last year.

Tuna and Swordfish

Tuna catches in the Western and Central Pacific continue to be weak, but canneries in Thailand maintain adequate inventories thanks to weak demand for finished goods. In contrast, catches in the Eastern Pacific are quite stable and local factories have sufficient raw materials.

Pacific skipjack prices remained stable, while yellowfin prices increased due to strong demand. This was particularly evident with the sharp increase in cooked and cleaned skipjack loin prices due to the expiry of the duty-free quota in early January 2025.

Squid

South African squid production continued to decline, leading to the inactivity of several vessels. Squid prices also fell by €0.75/kg due to limited demand in Europe. Meanwhile, squid in countries such as Morocco and Mauritania had a brighter outlook, with Morocco increasing its octopus quota by 23.6% compared to last year.

Shrimp

The shrimp market remained quiet in February 2025, with shrimp prices stable due to lack of strong winter demand and not being a key product for Valentine's Day dishes. Demand is not expected to change significantly in March.

Other crustaceans

European crab supplies are currently low while demand remains strong, leading to significant price increases. Crab consumption in Europe is at its peak and is expected to continue this trend in the coming months.

Mussels

Mussels were of the best quality and most abundant in February 2025. In France, demand for mussels increased sharply, but prices also increased due to the lack of local mussel supply. The quality of mussels from other regions in Europe continues to be highly appreciated, especially in the first months of the year.

Clams

Clam farming in Italy is facing difficulties due to the impact of green crabs on clam populations. The Italian government has funded 2.8 million EUR for green crab collection and disposal activities. This has prompted the Italian seafood industry to consider importing clams from Portugal. Manila clam prices have eased slightly from their record highs in late 2024.

Herring

Norway’s herring production has fallen sharply, with the total quota down 20% year-on-year. Herring export values ​​have increased slightly thanks to stable demand from major markets such as Poland and Germany.

Salmon

Norway recorded strong growth in salmon production and exports in January 2025, with exports reaching 95,100 tonnes, up 10% year-on-year. This was largely due to favorable weather conditions and exchange rates. The United States, Poland and France continue to be the largest markets for Norwegian salmon.

Trout

Norway’s exports of trout increased sharply, with volumes reaching 7,174 tonnes, up 58% year-on-year. Major markets such as Ukraine, the United States and Thailand continue to contribute significantly to this growth.

Seabass and Seabream

Seabass and seabream supplies from Türkiye and Greece are currently low, causing prices to rise. Demand is currently quite slow but is expected to pick up next month, before Easter.

Source: VASEP