Norway raises minimum cod price

 

Date: September 17, 2013.

       

Norway’s fishing and seafood players have reached a compromise to “cautiously” increase minimum prices of fresh cod landings for the upcoming season.
The agreement, inked by the Norwegian Fishermen’s Sales Organization (Rafisklaget) and the Norwegian Seafood Federation (FHL), increases the minimum price for the three largest sizes by NOK 0.25 per kilo, while the smallest size is increased by NOK 0.50 per kilo.
The agreement is a sign that prices have reached the bottom, and that the market is looking up, said Rafisklaget.
Starting Sept. 23, and until further notice, the minimum prices for fresh cod landings in Norway are:

• 6kg + : NOK 12.50 (up by NOK 0.25)
• 2.5 – 6kg : NOK 10.75 (up by NOK 0.25)
• 1 – 2.5kg : NOK 9.75 (up by NOK 0.25)
• Under 1 kg : NOK 8.50 (up by NOK 0.50)

Other minimum prices for fish are transferred at current levels, with the exception of pollock, which is also increased for the two largest sizes by NOK 2-3 per kilo.
Norway’s minimum cod price had been slashed last autumn in anticipation of the 33% increase in the Barents Sea quota, which sent market prices in a downward spiral. After unsuccessful negotiations with and FHL, Rafisklaget last September arbitrarily set the minimum price for the period starting Oct. 1, 2012, cutting prices by up to NOK 1 from the previous season.