Falling export prices are prompting Royal Greenland to lower the price it pays for regular cod. The price of Nutaaq cod will remain unchanged, and according to the company, fishermen will continue to receive more for their cod than they did in the first quarter of this year.
Royal Greenland is lowering the purchase price for regular cod following a decline in world market prices, the company announced.
According to Royal Greenland, the company is earning less per cod than it did at the beginning of the year. However, the company emphasizes that even after the adjustment, the payments to fishermen will remain above the level seen in the first quarter of 2026.
“When export prices for cod fall, we have to adapt to market trends. However, we don’t want the price adjustments to hit fishermen any harder than absolutely necessary,” says Sten Sørensen, operations manager for cod at Royal Greenland.
The price of Nutaaq cod remains unchanged
The price reduction does not apply to Nutaaq cod. Royal Greenland is maintaining the purchase price for this product because, according to the company, its exceptional quality allows it to command a higher selling price.
Royal Greenland points to North America, among other markets, as one with good sales opportunities for Nutaaq cod.
At the same time, the company is working to utilize a larger portion of each fish to increase the value of the catch. For example, cod heads are now processed at the factories and sold for export rather than being discarded.
“The best way to be better prepared for price fluctuations is to maximize the value of the cod,” says Sten Sørensen.
He highlights the collaboration with fishermen regarding Nutaaq cod and the use of byproducts as factors that help limit the need to lower purchase prices.
The announcement does not specify by how much the price of regular cod will be reduced, or when the change will take effect.
Source: Royal Greenland.
5:55 p.m.
