Negative Outlook for Christmas Cod Season in Portugal Due to Low Supply and High Price

Codfish is the star on every table during the Christmas season in Portugal. However, the outlook for cod for the upcoming season is not promising as raw materials are scarce, and the price is constantly increasing. The main reasons are the reduction in quotas in 2023 for cod fishing in major countries, such as Norway, and the current Eurozone inflation. As a result, processors are hesitant to keep operating in the current market scenario and choose to wait and monitor how the situation develops.