The price of cod has hit a new high and may continue to rise in the future: Who is willing to pay the high price?

Published 2025년 1월 23일

Tridge summary

The 2025 quota for Northeastern Arctic cod has been reduced to 340,000 tons, the lowest level since 1991, due to the significant reduction in Barents Sea cod resources. This has led to an increase in prices, making cod only affordable to those with a higher willingness to pay. The high-end catering, hotel, and retail industries are the biggest winners, with Alaska pollock being chosen as an alternative for price-sensitive consumers. Despite the overall decline in exports, the UK is still the largest market for Norwegian frozen cod. The future of the Norwegian cod industry will depend on quota policies and market strategies, with a focus on sustainable fisheries.

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

Original content

The 2025 quota for Northeastern Arctic cod jointly set by Norway and Russia has been reduced to 340,000 tons, the lowest level since 1991, a year-on-year decrease of 25%. This decision reflects the significant reduction in Barents Sea cod resources in recent years, which has exacerbated market supply pressure. Supply and demand imbalance pushes up prices Finn-Arne Egennes, chief seafood analyst at Nordea Bank, Norway Egeness pointed out that the global supply of Atlantic cod is expected to fall by 12% in 2025, while the economic recovery of the European market and the US policy of completely banning the import of Russian fish have further pushed up the demand and price of cod. In 2024, the export price of frozen cod in Norway increased by 50% year-on-year, which even exceeded the level of the initial market recovery after the COVID-19 pandemic. From the market feedback, the current price of frozen cod has stabilized at around 80 Norwegian kilograms. Although the increase is ...

Source: Foodmate