Demand and Price of Cod Increases in Japan During February 2023

Cod fish is popular in Japan, and its consumption consistently ranks high among all seafood due to its low prices in the market. The price at the wholesale market is generally USD 1.8/kg, which is one of the lowest prices for fish. However, the selling price of cod in Japan has also increased due to the effects of global inflation. Throughout February 2023, the average wholesale market price was USD 2.1/kg, an increase of about 11% compared to February 2022's record of USD 1.86/kg. Even with this price increase, demand is rising. The monthly handling volume in February 2023 was 511MT, an increase of 17% compared to February 2022. Compared to other fish, the price of cod is still low, so consumer demand seems to be stable.