Barents Sea cod quotas may be drastically reduced in 2025 for Norway and Russia

The 2024 cod quota has been cut by 20% as proposed, to 453,427 tonnes. This move, combined with a blanket US ban on processing Russian fish in third countries, has led to a sharp rise in prices for frozen trawled Norwegian headed and gutted (H&G) cod. Russian cod CFR China prices are also rising, but still have a price difference of more than $1,500/tonne compared to Norwegian cod, according to the latest data. Norges, held in northern Norway Ex-vessel prices for 1-2.5kg H&G haddock in week 24 (June 10-16) at the Rafisklag auction fell, although sources said this was mainly due to lower volumes. For haddock, scientists recommend a catch of 106,912 tonnes in 2025, a 24% decrease from the current quota and a 16% decrease from the 2024 recommendation. The 2024 quota is 141,000 tonnes, while the recommended catch is 127,550 tonnes. H&G haddock in Norway and Russia Haddock prices remain firm, with a spread of about $400/ton. For redfish, the proposed quota for 2025 is 67,191 ...