Prices of cod and haddock rise further in Russia

Published 2024년 11월 28일

Tridge summary

The article highlights a significant increase in the prices of Russian and Norwegian cod and haddock, affecting the downstream market due to a decreasing quota for Barents Sea cod and a proposed 25% reduction in the trawl fleet in 2025. The price of Norwegian and Russian cod has reached $7,300-$7,400/ton and $6,000-$6,200/ton, respectively, while haddock prices are also rising. A European trader noted that the price of Russian haddock is similar to that of Norway, with an average price of $4,800/ton, and anticipates continued price increases due to access to the US market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Week 47 (November 18-24), the prices of Russian and Norwegian cod and haddock continued to rise, exerting greater pressure on the downstream market. In recent years, the quota of Barents Sea cod has dropped significantly year by year. The quota will drop further by 25% in 2025, leaving only 340,000 tons, and the quota of trawl fleet will be reduced by as much as 32%. Last week, the price of cod rose further. The CFR price of 1-2kg Norwegian headless and gutted (H&G) frozen cod shipped to Dalian and Qingdao rose to $7,300-$7,400/ton. 1-2kg Russian The price of H&G cod is $6,000-$6,200/ton. At the same time, the price of haddock is also rising. The price of 800g+ Norwegian haddock H&G is $4,900-$5,000/ton; the price of 500g-1kg Russian H&G haddock is $4,750-4,900/ton. A European ...

Source: Foodmate