Norcod’s next four months of harvests already sold
Spain leads demand for year-round supply of fish, says majority owner Sirena
Danish fish supplier Sirena, which has an exclusive marketing agreement with Norwegian cod farmer Norcod, has sold the first four months’ harvest of the company’s second production cycle, it said today.
Sirena, which has a majority shareholding in Oslo-listed Nordcod, sold more than 4,000 tonnes of the company’s first production cycle (August 2021 to May 2022) in just four months.
Norcod expects to harvest some 8,000 tonnes from its second cycle running from this month to June 2023. The first four months of the harvest are already spoken for, said Sirena.
Norcod aims to scale up production every year to reduce costs while meeting growing demand. In 2024, Sirena expects to sell in the excess of 20,000 tonnes of product, it said in a press release.
Fixed contracts for cod
Sirena said year-round availability enables it to line up fixed contracts for fixed volumes at fixed pricing. This is a major advantage for buyers as it avoids normal market fluctuations that occur with wild-caught cod, such as not knowing how much product will be available, at what price and what quality and size.
“The huge interest from customers has been amazing, reflecting the advantages of the unique selling points,” said Henrik Fram Riehmandsgaard, who is responsible for Norcod sales coordination at Sirena.
Alberto Alonso, North Atlantic key account manager at Spanish seafood distributor Cabomar, said Norcod’s fish was now available in all the country’s major retail chains.
“[Norcod]’s quality, fresh-looking meat and firm texture is cherished by retail and food services in Spain. The big splash that has already been made with Norcod is truly inspiring,” said Alonso.
Europe, Asia and UAE
There is also strong interest from leading distributors in the UK, Germany, France and the US, said Sirena, and it is working on developing markets in Asia and the United Arab Emirates thanks to fixed contracts and its ability to maintain freshness through just-in-time logistics.
Chefs such as Torsten Vildgaard, head chef for 11 years at the world-famous Noma restaurant in Copenhagen, have praised Norcod’s fish, and seafood expert Tetsuya ‘Nick’ Sakagami, one of only a few holders of Japan’s coveted ‘Osakana Meister’ (Fish Master) certification, has said it would be perfect for sushi.
Martin Buhl, head of strategy and co-owner of Sirena, said the future was bright for Norcod.
“Given the current pressure on wild fish stocks, conditions are ideal for farmed cod to become a key source of healthy protein for the future, with no compromises in responsible production methods or flavour,” said Buhl, whose investment company Peter Buhl Holdings owns a 16.2% stake in the fish farmer.