Spot prices for fresh Norwegian cod have been slashed by a third as the repercussions of COVID-19-induced lockdowns shake up traditional market dynamics.

Although the Norwegian cod fishing season got off to a slow start because of a combination of bad weather and delayed migration of skrei, there is still plenty of volume reaching the market. But despite a healthy retail demand, the critical foodservice sector is taking a heavy toll.

The latest average price from Norwegian fishermen's association Norge Rafisklag for whole fresh H&G cod larger than 2.5