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Monday, February 9, 2015

09/02/2015: Is the price of fish and chips set to soar?


Fish and chips has long been a cheap-and-cheerful treat for families across Britain, but the price of the traditional meal could rise steeply this year, The Telegraph reports.

Food industry experts have warned that cod prices are soaring, the Daily Mail has reported.

Analysts Mintec reported last week that the price per tonne for Norwegian cod has increased by 25.7 percent year on year to £1060.

http://www.telegraph.co.uk/foodanddrink/foodanddrinknews/11401056/Is-the-price-of-fish-and-chips-set-to-soar.html

The rising prices are thought to be due to growing demand for the fish, especially from new markets such as China, and a slight drop in supply, due to a small reduction in the allowed fishing quotas.

Only around 20 per cent of cod eaten in the UK is Norwegian, but a spokesman for Mintec told trade magazine The Grocer: "Prices in Norway will indirectly influence cod prices from other producers."

Cod is one of Britain's favourite fish, with more than 60 per cent of fish and chip buyers choosing it. But overfishing in the North Sea for decades pushed cod stocks to dangerously low levels, and consumers have long been urged to opt for alternatives such as hake.

In 2013, however, the Martime Stewardship Council reported that North Sea cod stocks were on the road to sustainability once more.

Andrew Crook, from the National Federation of Fish Friers, said that although the price of cod was rising, “the prices are really only around where they were five years ago. The prices are just levelling out from last year, when more fish were caught.”

“This isn't something for fish and chip shops to worry about,” he added.

“Fish and chips is still a very cheap meal, compared to something like a pizza.”


Read the article HERE.

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