Greenland’s exports has come flying from the start in 2026. Sermitsiaq has therefore spoken with the CEO of Royal Greenland, Toke Binzer, about the reasons for the progress.
Royal Greenland, which is owned by the self-government, is the country’s largest fishing company and accounts for a significant part of exports. According to Toke Binzer, there is currently “a tailwind on the bike path” because the company is getting high prices for its goods on international markets:
Greenland’s exports has come flying from the start in 2026. Sermitsiaq has therefore spoken with the CEO of Royal Greenland, Toke Binzer, about the reasons for the progress.
Royal Greenland, which is owned by the self-government, is the country’s largest fishing company and accounts for a significant part of exports. According to Toke Binzer, there is currently “a tailwind on the bike path” because the company is getting high prices for its goods on international markets:
– Dare are record high seafood prices. If you look at historical seafood prices, we are really high right now. Both for halibut and for cod. The prawns have also been on the rise, and the crabs have also been on the rise a bit, says Toke Binzer.
Fishing in the Barents Sea hit by problems
The director says that, among other things, cod fishing in the Barents Sea is going badly, that there is a shortage of shrimp in several places in the world and that Russia is subject to sanctions. These are all factors that contribute to pushing up the price of Greenlandic products:
– We are also struggling with the fact that the quantities of prawns are falling. And Greenlandic fish products are still highly sought after, especially on the Asian market, says Toke Binzer.
He further explains that the fact that Royal Greenland, for example, has chosen to fish virtually its entire halibut quota in the first months of the year also affects the figures.
– We have not become world champions
Toke Binzer does not want to reveal specific figures for Royal Greenland, but he dares to say that he expects a positive half-year report. However, he also warns that things will turn around again:
– You shouldn’t think that we have become world champions because things are going well for a quarter or half a year, says the director.
Since Royal Greenland has placed a large part of its fishing in the first half of the year to, among other things, be ready if other opportunities present themselves, Toke Binzer does not have such high expectations for the third and fourth quarter.
– We have a good foundation, and therefore I also believe in a good year. But for God’s sake you must not project the first quarter and think that it will now land here. Then you will be badly disappointed, says Toke Binzer.
– Will do everything to keep prices up – costs in focus
Royal Greenland has struggled with the economy in recent years, and Toke Binzer says that the good half-year that the fishing giant is having will bring the company further away from the crisis.
– We are continuing the transformation we have been on. You could say we got to a good place in 2025 and I think we’ll end up in a good place in 2026. I would say we’re continuing the positive journey, but I’d also say it’s a long journey.
Toke Binzer says that the overall goal is to minimize Royal Greenland’s costs, so that the company will not incur new losses when prices fall again at some point.
– We do everything we can to keep the prices up for as long as possible. But it is also absolutely certain that it will not continue to last.
– When the volume falls, and when the prices fall at some point, it is important that our cost base is a place where we can still ensure that it should only be a very, very modest profit, but still remain on the black side of the line, says Toke Binzer.
