Profitability of Norway’s cod fishery scrutinized
Nofima (the Norwegian Institute of Food, Fisheries and Aquaculture Research) on Friday announced a new research program geared toward making the country’s cod fishery more profitable.
Norway’s cod industry has struggled in recent years, with export prices in 2010 nearly 10 percent lower than in 2000, according to Nofima.
The Fishery and Aquaculture Industry Research Fund (FHF) will conduct a four-year, NOK 22 million social science research program to determine how to move forward.
“The purpose of the research program is to learn more about why the cod sector has had low profitability over time,” said Bent Dreyer, Nofima director of research. “At the same time, we will gain knowledge about how government regulation of the catching and production of wild fish affects profitability, international competitiveness and structural and environmental impact.”