North American processing giant High Liner Foods is making progress on getting marketable products from the larger size cod coming from the Barents Sea, said its CEO, Henry Demone.
The last time Undercurrent News spoke with Demone, the company was looking into ways to get products from the 2-3 kilogram cod that are coming out of the Barents Sea.
“I think we are there,” he said of the company’s product development efforts on larger cod, speaking to Undercurrent at the National Fisheries Institute's Global Seafood Market Conference in Santa Monica, California.
“We seem to have figured out a way to get a 4-ounce loin and other products from the big fish,” he said.
This has been a process that has taken a few months, with High Liner staff traveling to China to look into what can be done and samples being sent from China for review.
“We would normally buy 1-2 kilogram H&G, as that is what produces the right products for our markets best,” said Demone.
The massive boost in the Barents Sea cod quota is not causing prices for 1-2 kilo fish to dive, because more of the fish are 2-3 kilos and above.
The 2-3 kilo fish are the fish that would have usually gone to southern Europe, for the salted market. However, the trouble in these markets means demand is down.
Demand is still strong on the 1-2 kilo fish and prices for H&G in this size are reportedly around $2,700-$2,800 per metric ton.
Quotes for prices for the larger fish are though to be as low as $2,500.