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Article: Cod: Iceland's problems shake cod industry, but demand remains strong.(Top 10 Species)
- Article from:
- Seafood Business
- Article date:
- December 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Diversified Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When it comes to cod processing, Iceland rules. And anyone looking for signs of financial troubles in Iceland would have been wise to look at the cod market, where signs of financial troubles were seen way before Glitnir and other Icelandic banks were seized by the government early last month due to the global credit crunch.
While Iceland's financial situation, tight supply and high demand has rocked the cod market this year, the 2009 catch is expected to yield strong demand and consistent supply. Cod ranks No. 8 on the U.S. per-capita consumption list, according to the National Fisheries Institute, and is also favored by European ...