Exhaustion of Golden Redfish Quota Triggers Price Surge in Portugal in Sep-24

The duty-free quota for golden redfish (Sebastes marinus or S. norvegicus) imports to Portugal has been exhausted, leading to the imposition of a 2.2% duty on any future shipments until the end of 2024, provided an origin certificate is presented. This change has resulted in an immediate increase in wholesale prices for golden redfish in the Portuguese market. As an alternative, the quota for Beaked Redfish (Sebastes mentella), a less commonly fished species in Norwegian waters, remains available. However, the availability and pricing of Beaked Redfish may experience more significant fluctuations due to its limited catch and market supply.