Norwegian fishermen are enjoying stronger than expected prices for cod, especially for fresh cod, as a looming US import ban on Russian-origin products creates uncertainty in the global whitefish market.

Finn-Arne Egeness, chief seafood analyst at Nordea Bank, said prices paid to Norwegian fishermen for fresh cod were 20 percent higher than a year ago, with further growth expected.

"Prices are continuing to increase, both for fresh and frozen cod," he told IntraFish.

The United States has closed a loophole that had allowed imports of Russian-harvested seafood processed in third countries, with an outright ban set to take effect from Feb.