Greenland Halibut and Black Cod Prices Rise Again, European Buyers Call It a "Bubble"
게시됨 2025년 6월 14일
Tridge 요약
During Week 24 (June 9-15), the price of Russian trawl-caught headless and gutted (H&G) cod increased again to $7,250/ton, a rise of $250/ton from the previous week. The price of 500g-1kg black cod rose by $400/ton to $5,650/ton, compared to Norwegian prices.
Due to sanctions, EU buyers cannot directly pay companies like Norebo and Murman. The market consensus is that fish fillets produced in China can be sold to Europe. The European Commission has not yet made a specific clarification.
Additionally, the US extension of Section 301 tariff exemptions is considered one of the reasons for the rise in black cod prices.
The 2025 Barents Sea cod quota will be reduced by 25% to 340,000 tons, and black cod by 8% to 130,000 tons. Norebo alone accounts for 45% of Russia's cod quota, and Murman for 7-8%.
A Chinese processing company executive told UCN: "At current raw material prices, the fish fillets we produce are completely unprofitable."
A US source stated: "The current market situation is quite chaotic, with geopolitics replacing supply and demand as the primary market driver. Global trade is deeply affected by tariffs, sanctions, and trade wars, and the industry seems to discuss quality, supply, and freight rates very little. Tariff uncertainty will continue, and the extension of Section 301 exemptions has given the market a slight breathing opportunity."
A Russian seller said: "EU sanctions will lead to further price differences, and other sellers will fully utilize this advantage to raise prices."
A European source noted: "Transaction prices depend on buyers and sellers. H&G prices have surged by $500/ton, which may be a bubble rather than an indication. In some cases, the bubble is subsiding."
In the US wholesale market, twice-frozen black cod fillet prices remain high, with finished product price increases being lower than raw material price increases in the short term.
On a positive note, a two-day negotiation between China and the US was held in London on June 11, with both sides reaching a basic framework for a trade agreement.
US Commerce Secretary Howar
Due to sanctions, EU buyers cannot directly pay companies like Norebo and Murman. The market consensus is that fish fillets produced in China can be sold to Europe. The European Commission has not yet made a specific clarification.
Additionally, the US extension of Section 301 tariff exemptions is considered one of the reasons for the rise in black cod prices.
The 2025 Barents Sea cod quota will be reduced by 25% to 340,000 tons, and black cod by 8% to 130,000 tons. Norebo alone accounts for 45% of Russia's cod quota, and Murman for 7-8%.
A Chinese processing company executive told UCN: "At current raw material prices, the fish fillets we produce are completely unprofitable."
A US source stated: "The current market situation is quite chaotic, with geopolitics replacing supply and demand as the primary market driver. Global trade is deeply affected by tariffs, sanctions, and trade wars, and the industry seems to discuss quality, supply, and freight rates very little. Tariff uncertainty will continue, and the extension of Section 301 exemptions has given the market a slight breathing opportunity."
A Russian seller said: "EU sanctions will lead to further price differences, and other sellers will fully utilize this advantage to raise prices."
A European source noted: "Transaction prices depend on buyers and sellers. H&G prices have surged by $500/ton, which may be a bubble rather than an indication. In some cases, the bubble is subsiding."
In the US wholesale market, twice-frozen black cod fillet prices remain high, with finished product price increases being lower than raw material price increases in the short term.
On a positive note, a two-day negotiation between China and the US was held in London on June 11, with both sides reaching a basic framework for a trade agreement.
US Commerce Secretary Howar
원본 콘텐츠
During Week 24 (June 9-15), the price of Russian trawl-caught headless and gutted (H&G) cod increased again to $7,250/ton, a rise of $250/ton from the previous week. The price of 500g-1kg black cod rose by $400/ton to $5,650/ton, compared to Norwegian prices. Due to sanctions, EU buyers cannot directly pay companies like Norebo and Murman. The market consensus is that fish fillets produced in China can be sold to Europe. The European Commission has not yet made a specific clarification on this. Additionally, the US extension of Section 301 tariff exemptions is considered one of the reasons for the rise in black cod prices. The 2025 Barents Sea cod quota will be reduced by 25% to 340,000 tons, and black cod by 8% to 130,000 tons. Norebo alone accounts for 45% of Russia's cod quota, and Murman for 7-8%. A Chinese processing company executive told UCN: "At current raw material prices, the fish fillets we produce are completely unprofitable." A US source stated: "The current market ...
출처: Foodmate
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