Iceland's Fishing Strike and High Salmon Market Push Up Cod Prices in UK
SEAFOODNEWS.COM [Financial Times] by Emiko Terazono - February 17,2017
Europe’s fish lovers are facing higher cod prices because of a prolonged fishing strike in Iceland and increased demand after the rising cost of salmon led shoppers to seek alternatives.
Norwegian cod prices have risen almost 30 percent from a year ago to €2 a kilogramme after a 45 per cent rise in salmon prices over the same period led consumers to look for cheaper substitutes.
“Salmon is facing a negative setback from the demand side with more people buying white fish like cod,” said Kolbjorn Giskeodegard, analyst at Nordea.
Prices for Icelandic cod have risen 1 per cent from a year before. Disagreements between the Icelandic fishermen’s union and the vessel owners’ association have left ships grounded at ports in Iceland since December.
To Read Full Story Login Below.