Marine Harvest is ending its investment in cod farming and taking writedowns for NOK 22 million (€2.5 million/$3.4 million), while Villa Organic is selling 67.1 percent of Villa Cod Farm after losses last year cost it NOK 61.6 million (€6.93 million/$9.42 million).
Marine Harvest wrote in its report for the first quarter the cod farming industry in Norway had taken considerable steps backward in 2008, and is beginning 2009 with a low rate of growth, mortalities and disappointing prices.
As a result of this trend, the planned release of cod juveniles in Norway is limited for 2009.
