An expected further drop in cod fishing quotas and a long-awaited rule change could provide new opportunities for a handful of cod farmers that have built promising operations in Norway.

Seafood data and analysis firm Kontali said there will be 1 percent more whitefish on the market in 2024, and that extra volume will come from aquaculture.

"With the fall in catches, there should be a window for the breeders to increase production and create profit," Kontali analyst Jan Erik Oksenvaag said at the North Atlantic Seafood Forum earlier this month.