Global cod supply declines, Greenland on the rise: Production expected to increase to 71,000 tons by 2026

Greenland's cod catch has grown for three consecutive years: from 54,000 tons in 2023 to 59,000 tons in 2024, with an expected increase to 69,000 tons this year, and further to 71,000 tons by 2026. This means Greenland is "rising against the trend" amid global supply contraction, although it accounts for only about 4% of the global share. Royal Greenland, which holds the largest quota, has a quota of 2.75 million tons this year and may increase to 3 million tons next year. Robert-Jan Treebus, Chief Commercial Officer of Royal Greenland, said the company continues to develop cod as a core species, especially in the North American market. Cod is currently its second-largest product in the United States, after snow crab, and the company plans to further expand its market share in the United States. Currently, about 40% of its products are exported to Europe and Asia, and 20% are sold to North America. However, this year, Greenland's coastal cod fishery was affected by severe weather, ...