Farmed cod production is expected to reach 70,000 tons, but it still cannot make up for the shortage of wild caught

Published 2024년 11월 14일

Tridge summary

The article highlights the decline in the wild cod quota in the Barents Sea, leading to a tight supply of fresh cod in the market, particularly during the off-season. To meet global demand, Norwegian farming companies like Norcod, Ode, and Kime Akva are rapidly expanding their farmed cod production. Farmed cod accounts for a significant portion of Norway's fresh cod exports, offering a stable supplement and providing a year-round supply. Despite challenges such as profitability pressure and operating losses, the farmed cod industry in Norway is expected to grow, with the potential to produce 70,000 tons of farmed cod per year within the next five years, making it an important source of fresh cod for the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As the quota for wild cod in the Barents Sea gradually decreases, the market supply of cod has become tight. Although farmed cod is still in its early stages of development, several Norwegian farming companies, such as Norcod, Ode and Kime Akva, are rapidly emerging and striving to expand production capacity to meet the global market demand for fresh cod. Wild fishing cannot meet market demand, and farmed cod fills the gap As the quota for wild cod continues to decrease, the supply of fresh cod in the market is obviously insufficient after the peak fishing season from February to May each year. Norcod CEO Christian Ribe (Christian Ribe) Riber said that although farmed cod will not completely replace wild cod, farmed cod can provide a year-round supply and provide a stable supplement to the market. According to data from the Norwegian Seafood Council (NSC), farmed cod accounted for 54% of Norway's fresh cod exports last month. Data shows that the supply of Norwegian cod is ...

Source: Foodmate