Lower demand on international markets, plus intense competition from Asian pangasius and tilapia, meant cod prices dropped to at three-year low of €4.65 ($6.69) a kilo, according to the latest groundfish report from the United Nation’s Food and Agriculture Organization (FAO).
The report noted the positive signs of stock recovery in Barents Sea and Newfoundland.
The overall cod biomass in the Barents Sea is the largest since 1968, and the spawning stock biomass is the highest it's been since the early 1950’s.
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