Abstract
.According to the theory of conventions, food value chains (FVCs) involve a complex array of actors who share an agreement about the qualities embodied in their particular foodstuff. Nevertheless, that agreement is continuously challenged by changes in consumer markets. Therefore, I argue that FVCs able to adapt those qualities to new trends will perform better than FVCs whose commitment to certain qualities leads to a misunderstanding between producers and consumers. The organization of the chain itself, the values of national regulatory frameworks, and the goals of the national innovation system are discussed as factors that shape an FVCs' ability to re‐arrange that core agreement. By using professional reports, statistical records and personal interviews, this article focuses on two FVCs that have experienced contrasting trajectories in recent decades in the Spanish market: the wine industry located in the region of Castile and Leon (Spain) and the Norwegian salted cod industry. The growing wine FVC has achieved a successful agreement about a set of qualities linked to nature, tradition, and place, all of them guaranteed by the reputation of the Designation of Origin (DO) system. In contrast, the salted cod FVC is losing its market share because its main actors are failing to properly communicate the key qualities of environmental sustainability and artisanal cod production to concerned Spanish consumers, as well as in the adoption of the
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