The Stockfish Trade: A Global Connection
Stockfish, a dried cod from Norway, is a staple in Nigerian cuisine, prized for its texture and flavor. Despite its high cost, with a price of $65 per kilogram, it remains a crucial source of protein in Nigeria.
The production of stockfish in Norway involves drying cod in ideal locations such as the Lofoten islands. The process, which takes three months, allows for natural preservation without freezing, resulting in a product that can be stored for up to three years.
Trade and Demand
- Nearly 100% of Norway’s stockfish production is exported to Nigeria, with 8.94 million dollars’ worth imported in 2015.
- The demand for stockfish in Nigeria increased after the civil war, when Norway sent it as emergency supplies to combat famine.
- Today, stockfish is a valuable resource, with prices fluctuating depending on the season, and a range of $5,000 to almost $1,000,000.
The Nigerian market is crucial to the stockfish trade, with attempts to sell products to other countries often targeting Nigerians living abroad. The exchange rates in Nigeria, both official and black market, significantly impact businesses, particularly those importing stockfish.
Pricing and Affordability
- Stockfish prices have increased significantly, from around 7-8 million 15 years ago to 17-50 million today, due to rising energy costs and other factors.
- The high cost of stockfish has led to a shift towards more affordable and smaller portions, making it challenging for people to afford.
Despite the challenges, stockfish remains a vital part of Nigerian cuisine, and the trade between Norway and Nigeria continues to be an important connection between the two countries.
Key Vocabulary
| Term | Definition | Example Usage |
|---|---|---|
| Staple | A food item that is regularly consumed and considered a basic part of a person’s diet. | Stockfish is a staple in Nigerian cuisine, prized for its texture and flavor. |
| Natural Preservation | The process of preserving food without using artificial methods, such as freezing or adding preservatives. | The production of stockfish in Norway involves natural preservation, allowing for storage up to three years. |
| Fluctuating | Changing frequently, often in an unpredictable manner. | Stockfish prices fluctuate depending on the season, ranging from $5,000 to almost $1,000,000. |
| Emergency Supplies | Goods or materials provided in times of crisis or need. | Norway sent stockfish as emergency supplies to Nigeria after the civil war to combat famine. |
| Exchange Rates | The rate at which one currency can be exchanged for another. | The exchange rates in Nigeria, both official and black market, significantly impact businesses importing stockfish. |
| Affordability | The state of being able to afford something, often in terms of cost or price. | The high cost of stockfish has led to a shift towards more affordable and smaller portions. |
| Vital | Essential or crucial for something to exist or function. | Stockfish remains a vital part of Nigerian cuisine, despite the challenges in affordability. |
| Crucial | Extremely important or necessary for something to happen or exist. | Stockfish is a crucial source of protein in Nigeria, despite its high cost. |
| Exported | Sent or sold to another country. | Nearly 100% of Norway’s stockfish production is exported to Nigeria. |
| Imported | Brought into a country from another country. | Nigeria imported $8.94 million worth of stockfish from Norway in 2015. |
| Targeting | Directing efforts or marketing towards a specific group or audience. | Attempts to sell stockfish to other countries often target Nigerians living abroad. |
| Significantly | To a great extent or degree, often in a way that is important or noticeable. | The exchange rates in Nigeria significantly impact businesses importing stockfish. |
Why Stockfish Is So Expensive | So Expensive Food | Business Insider 🎓
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Grammar Focus
Grammar Focus: The Use of the Present Perfect Tense
The present perfect tense is used to describe an action that started in the past and continues up to the present moment, or an action that happened at an unspecified time in the past and has a connection to the present. In the context of the stockfish trade, the present perfect tense can be used to describe the ongoing relationship between Norway and Nigeria, such as ‘has remained’ or ‘have been exporting’. It can also be used to describe completed actions with a connection to the present, such as ‘have increased’ or ‘has led to’. The present perfect tense is formed using the auxiliary verb ‘has’ or ‘have’ and the past participle of the main verb.
