Despite a rising volume of fresh cod landed by Norwegian harvesting companies, prices are at record levels, the result of red-hot demand and growing concern that Russian fish could be banned or restricted in some European markets.

Fresh cod prices in March averaged (€3.70/$4.10) per kilogram, headed and gutted (H&G), a record-high, and a stunning 56 percent rise over the same time last year.

Frozen cod, currently selling at an average price of NOK 43.99