Norwegian frozen and headed and gutted (H&G) haddock prices are falling at an historic rate and the drop this year will be greater than it has been for several years, according to Finn-Arne Egeness, chief seafood analyst at Nordea Bank.

Frozen headed and gutted haddock is Norway's main haddock product and is vital for the Norwegian ocean-going fishing vessel fleet and exporters.

So far this year, haddock prices to fishermen are down 30 percent in euro terms and 17 percent when using the Norwegian kroner, said Egeness.