With new salmon money, Norwegian cod farming is staging a comeback

Several players are once again investing in cod farming in Norway, nearly 10 years after the industry collapsed and Norwegian cod farmers went bankrupt.

Ronja Capital, the investment company of wellboat billionaire Roger Halsebakk, is bullish on the sector. “We look at cod farming as a very exciting area,” Investment Director Tore Tonseth, told IntraFish.

In 2019, Norway exported 1.1 million metric tons of farmed salmon worth more than NOK 72 billion (€6.8 billion/$7.9 billion).

Cod was the second most-exported species, with volumes of 180,000 metric tons worth NOK 10 billion (€938.2