Tesco's distancing themselves from Russia by stopping sourcing the cod products
Innovation & Technology
Market & Price Trends
Published Mar 14, 2022
The United Kingdom imports over 97,000 MT of cod per year with a value of UK USD 690 million and an average price of USD 7.11 per kg. The major importer and largest suppliers of cod into the UK are Iceland and China, each with roughly 25% of the market, followed by Norway with 12%, 10% from Russia, and 6% from Denmark. This accounts for 78% of the UK market's cod imports. This week Tesco, the UK’s largest food retailer, has pledged not to source Russian products in support of Ukraine and other retailers, taking Russian products off the shelves completely. With 10% of the cod consumed in the UK from Russia, who will fill this gap in supply in the future.