US Banned Russian Cod and Pollock, Prices Plummeted as Demand Shifted to Alaskan Varieties

The United States (US) has implemented a ban on Russian-origin Cod and Pollock, extending to Salmon and Crab. This action was taken through an unnumbered executive order issued on December 22nd. As a result of the ban, prices for Russian Pollock have sharply declined, reaching their lowest levels in 15 years. In contrast, Alaskan Cod and Pollock are experiencing upward price pressure, which suggests increased demand or supply constraints in these markets.