Norcod enters landmark contract and increases 2025 harvest forecast by 10%

2021 was a successful year for Norwegian aquaculture company Norcod, comprehensively delivering proof of concept for cod farming in Norway. Commercial harvesting of Norcod’s first batch of high-quality farmed cod will continue to April this year, and the Company is on course to achieving its target volume of 5,000 MT. Norcod has also entered into a landmark delivery contract with a major Spanish supermarket chain, delivering 850 MT with a fixed gross price of NOK 60 per kg delivered in Spain. “This is an exceptional agreement, confirming our strategy to enter into fixed price contracts, and even more so in that it will occur during the wild fishing season,” said Norcod CEO Christian Riber. “It also signals that we are achieving our goal to clearly differentiate our farmed cod from wild-caught cod, even through the high-season, and at high prices,” he added. Based on demonstrated exceptional biological performance, Norcod has taken the strategic decision to extend the in-sea growth phase to deliver an average of 4+ kg fresh cod to the market. As a consequence, the company has increased its expected harvested volume for 2025 by 10% to 27,500 MT. “We also expect to command higher prices in the market...