Cod prices continue to rise

THE price of cod is continuing its relentless rise, the latest statistics from Norway show.
The country exported 1,600 tonnes of fresh cod, including fillets, worth 73 million kroners (£6.7 million) last month, a volume decline of 26 per cent, but the value was only down by 20 per cent. Denmark and Sweden were the largest markets.
So far this year, Norway has exported 59,000 tonnes of fresh cod, including fillet, for NOK 2.1 billion £191.5 million).
While the overall volume has dropped by five per cent, in part due to quota reductions, the value increased by NOK 49 million – in others words, more money for less fish.
Norway also exported 5,600 tonnes of frozen cod during October worth NOK 232 million. The volume was down by 34 per cent, but the value was only 10 per cent lower, effectively a sale price increase of 24 per cent.
At the UK Seafood Summit on the Humber last month concern was expressed that fish inflation – and that of cod and salmon in particular – was seriously outstripping that of rival proteins such as meat and poultry.
And a few days ago, Leroy Seafoods reported that haddock prices alone had risen by 38 per cent since the beginning of the year
Shrimp or prawns are another big earner for the Norwegian fleet and last month exports increased by 145 per cent to 2,200 tonnes, worth NOK 119 million, a rise of NOK 48 million or 68 per cent.
Iceland, whose own shrimp industry is suffering, is becoming a big buyer on the Norwegian market and purchased 1,000 tonnes – almost half of that export figure. The UK and Sweden were the other two principal buyers.