“Cod prices are set by the catches. These have been tapering off for many years. This combination with reduced supply and marked growth in demand means prices will increase,” Berge said.
Cod is a well-known and popular seafood product across the globe.
Around 800,000 tons of cod are caught in open seas versus annual farmed cod production totaling 12,000 tons, according to Berge’s numbers.
“Farmed fish production is negligible in volume terms. It’s the wild-catch fisheries that set the prices for the farmed cod,” he said.
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