Publisher: Nofima AS
Number of pages: 41
International Standard Numbers:
Open Access: green
Norwegian processors of wet salted cod were hard hit by weak demand and a steep fall in marked prices of cod in the winter of 2009. The sales of wet salted cod to Portugal were particularly slow. The financial crisis that hit Iceland especially hard in 2008 increased the problems for Norwegian processors. Even if also Icelandic processors were hard hit, they could take advantage of a very weak Icelandic Krona. The Icelandic industry could were also able to adjust the prices on raw materials, in line with falling marked prices on products of cod, much faster than what happened in Norway. This report discuss some of conditions that created big challenges for the saltfish industry in Iceland and Norway in 20008 and the winter of 2009.