Norwegian cod farmer Norcod forms new collaborative agreement

Published on
January 10, 2020

Norcod, the Norwegian venture set up to rejuvenate cod aquaculture and become the world’s top farmer of the fish, has signed a collaborative agreement with Namdal Settefisk AS and Namdal Torsk AS, covering farming, processing, and sales.

A partnership was also entered into with Namdal Seafood AS, which will take care of fish slaughtering.

Norcod Managing Director Rune Eriksen signed the deal with Namdal Settefisk Managing Director Kåre J. Devik this week. Eriksen explained that the partnership will help his company to supply fresh farmed cod year-round. It also fits in with Norcod’s strategy of encompassing the entire value chain.

The relaunch of commercial cod farming by Trondheim-headquartered Norcod will take aquaculture of this species to an unprecedented scale, it said in a press release. Norcod currently  has two state-of-the-art facilities, but plans to set up eight more over the next few years.

According to Eriksen, once all farms are up and running, there should be a joint slaughter volume of around 36,000 metric tons per year.

Sales will be conducted in partnership with the Sirena Group, the largest shareholder in Norcod, which is expecting the first harvest of farmed cod to be processed at Namdal Settefisk's facility on Otterøya later this month. Harvesting from Norcod’s own two farms is expected to start in 2021.

“Norcod is proud to partner with such a respected name in the aquaculture industry as Namdal Settefisk, which shares our commitment to responsible and environmentally friendly farming operations and processing,” Eriksen said.

The collaborative agreement is one of Namdal Settefisk’s largest ever deals with a single partner and has positive implications for its entire value-chain activities.

Norcod aims to produce “one of the most sustainably produced proteins on the planet,” according to Eriksen, and is rearing sixth-generation fry selected for optimal health and yield. These will be farmed in a natural cold-water habitat on Norway's west coast.

The company hopes that by using selectively-bred cod and specially engineered feed, that the risks which hampered previous cod farming operations have been significantly reduced.

“The groundwork's done, the market is open, and the timing is perfect,” Eriksen said.

Photo courtesy of Norcod

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