B season's narrow-scale cod prices have slightly increased, rising less than sellers anticipated

A European importer's scheduled B quarter Alaska PBO fish fillet price from the US is around $3,600/ton, rising $50-$100/ton compared to the A quarter. Additionally, Russian PBO fish fillet prices are $3,100-$3,200/ton (excluding tax).

Large-volume order transactions have not yet been finalized, and European processing plants' and supermarket Aldi and major German retailers' new seasonal product orders have not been fully confirmed.

Some US sellers anticipate that PBO prices may rise to $3,800/ton or even $4,000/ton around the end of the B quarter, but this price level is clearly too high for many industry insiders.

Russian exporters believe that export prices to Europe must rise to at least $3,500/ton (excluding tax), and with a 13.7% tariff, prices would reach around $4,000/ton. This also implies that corresponding US 2026 A quarter prices would rise to $4,000/ton.

"They are dreaming!" a downstream European market enterprise executive told UCN: "How could Russian prices be higher than US prices? I believe B quarter prices will remain stable."

A Russian seller stated that US exporters have agreed to a slight price increase in early B quarter contracts, but a significant price hike would be difficult, especially with PBO production still increasing.

Another US seller said: "It is still a buyer's market, and some transactions can be negotiated through pricing. Some companies need to reduce inventory to ensure cash flow. Prices might first rise to $3,750/ton, then climb to $3,800-$3,900/ton, hopefully."

In the raw material market, H&G cod prices remain below $1,400/ton, with the current market situation favoring Russian enterprises and disadvantaging Chinese processing plants. Russian domestic demand is gradually growing, with domestic PBO fish fillet spot prices at around $3,400/ton (calculated at a USD/ruble exchange rate of 1:80); another trend is that Russian companies prefer to increase fish paste production for sale to Asia.

Last week, the EU Commission imposed sanctions on Russian companies Norebo Holding and Murman Seafood, which may once again rewrite the international white fish market landscape.