Norway is hopeful of muscling in on Russia's market share for king crab in South Korea, the Norwegian Seafood Council (NSC) has said.
Exports of the crustacean are up in 2020, despite the coronavirus pandemic, thanks in large part to the South Korean market, which is Norway's most important market for red king crab.
Well over 90% of all live king crab that the South Koreans import originates from Russia, while only 7% is Norwegian. But exports from the Nordic nation are taking an increasingly strong position in the high-end category, according to Gunvar Wie, NSC's envoy to Japan and South Korea.
"We may not be able to beat the Russians right away, but Norwegian red king crab is gaining more and more traction in top restaurants with star chefs and connoisseurs," he claimed. "The Norwegian industry says that throughout the autumn they have noticed greater demand. This is special because autumn is a time when Russian king crab normally dominates the entire market."
Analysis by Meros Consulting found that Norwegian crab has the potential to take a significantly larger piece of the Korean pie, especially at high-end restaurants and among consumers who are willing to pay a little more for extra quality when shopping in stores, the NSC said.
From January to November this year, Norway has exported 582 metric tons of king crab worth NOK 168 million ($19.5m), compared with 534t and NOK 141m in the same period in 2019. Some 95% of the crab headed to Korea is shipped live.
The NSC said it is working to carve out a greater market share, launching campaigns with TV chefs and advertising in magazines.
This year, Korean domestic crab catches are down, while the coronavirus pandemic has prevented Korea from shipping its usual levels of crab on to China. With more crab on the Korean market, prices came down, encouraging more people to eat it and widening the market niche.
December 17, 2020 at 05:39PM
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Norway looks to out-muscle Russia in Korean king crab market - Undercurrent News
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