"In my view, there will be no shortage of cod. We may eventually have to buy smaller sizes and less quantity, because the prices are truly pornographic," said Pedro Silva.

The president of ADAPI was speaking during an edition of the CNN Portugal Summit with the theme "Sea of ​​Opportunities," which took place in Ílhavo, in the district of Aveiro, and which was attended by the Minister of Infrastructure and Housing, Miguel Pinto Luz.

"We know what is happening in the market. Prices are exorbitant. This has a name. It's Russia and the war in Ukraine," stated Pedro Silva.

The president of ADAPI (Portuguese Association of Cod Producers) pointed out that Russia is the major supplier of cod to the European Union and to Portugal in particular, adding that the ban on Russian ships entering Norwegian ports has reduced the supply of this "faithful friend" (cod).

"I admit that the quantity of cod offered at this moment is lower and therefore prices are skyrocketing," observed Pedro Silva.

According to the president of ADAPI, the Portuguese consume about 60,000 tons of cod, but only fish for four or five thousand tons.

The price of cod for commerce, especially the traditional variety, has been rising consecutively for several years due to factors such as the European Union's (EU) decision to impose economic sanctions on Russia because of the war in Ukraine.

According to data from the Association of Cod Producers (AIB), cod sales during the Christmas season represent about 30% of annual sales in the domestic market. The per capita consumption of all cod products is approximately 15 kilograms (kg).