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Iceland: maximizing the value of cod

By Neil Ramsden | Published Oct. 1, 2014

Iceland is ahead of the curve when it comes to making full use of every last part of its quota, and it is still finding ways to innovate on this frontIceland is ahead of the curve when it comes to making full use of every last part of its quota, and it is still finding ways to innovate on this front.

Perhaps this is because the country's economy depends heavily on the industry, or perhaps because it receives no subsidies from the government; Icelanders have been promoting collaboration and innovation for a long time.

On a trip to the Reykjavik region in September 2014, Undercurrent News saw a few examples of how to maximize returns for each and every part of the fish.

At Icelandic Ny-Fiskur, new technology is being brought in to automate and control the quality of fresh whitefish processing. As with most Icelandic companies, nothing is wasted. You can read more about the company, which is still adapting to the ownership of Icelandic Group, here.

Drying fish has been a traditional industry in Iceland for decades, but only in the last few has it become so modernized. Haustak's Reykjanes plant is a green, modern facility drying all sorts of products, largely for sale to Nigeria. The firm is a popular one with Iceland's president, who sees the technology as one which can help feed the world without the logistical problems of a cold chain.

Then to Visir's Grindavik-based plant, which is undergoing some construction and restructuring as it consolidates its four plants into one - part of a different Icelandic trend, that of focusing and investing in on-land fresh fishprocessing.

On the topic of innovation, though, Visir has launched a joint venture with Thorbjorn to turn cod skins into highly profitable collagen - Codland.