Global cod quotas are further reduced, production will drop by 20% in 2024, and there are obvious signs of price increases

In 2024, global cod production will drop to a 10-year low, and the Barents Sea quota will be cut by 20% again. It is expected that the quota will be further reduced in 2025. At the Qingdao exhibition, merchants expected that the cod market will soon usher in a wave of growth. Price tide. ​ At the "2023 Norway-China Seafood Summit", Norwegian Seafood Agency analyst Eivind Hestvik Braekkan predicted that global cod (including Pacific cod) production will drop to 1.12 million tons in 2024, further reducing to 1.03 million tons in 2025, and 1.03 million tons in 2018. This number is as high as 1.63 million tons." ​ When total production declines, frozen H&G (head and guts removed) raw materials will be the first to be affected. Norwegian cod exports to China fell by 61% this year, and the Chinese market accounted for 22% of Norwegian exports. In the past 15 years, more than 30% of Norwegian cod exports Cod is sold to China. ​ Braekkan said that China's cod imports will show an ...