Narrow cod prices slightly pull back, is it entering a downward cycle?

The price adjustment this time is the result of a dual game of supply and demand. On the one hand, the fishing situation in the Russian Sea of Okhotsk has improved significantly compared to last year, easing the pressure on the supply side. On the other hand, Chinese processing enterprises have shown significant resistance to raw material price increases under high costs. Since the start of the B season in 2025, the price of Russian pollock raw materials has been on the rise. The CFR China transaction price for 25+H&G raw materials climbed from $1,450 per ton to the range of $1,550–1,600 per ton by the end of July, with some quotes even reaching $1,600 per ton. However, after entering August, there were signs of a halt in the price increase, leading the market to speculate that the turning point had been reached. However, from historical data, the current price is still at a high level for the past three years. The global inventory backlog caused by the pandemic in 2022 pushed raw ...