In the 47th week, the prices of true cod, black-line cod, and narrow cod continued to rise, with transaction volumes noticeably slowing down.
Published Nov 24, 2025
Tridge summary
In the 47th week, the price of Russian 1-2kg headless and gutted (H&G) true cod increased to $8,900/ton, and the price of Norwegian 1-2.5kg true cod increased to $11,000/ton. The price of Russian 500g-1kg blackline cod increased to $6,500/ton, and the price of Norwegian 800g+ blackline cod increased to $7,500/ton.
Several industry insiders said that the pressure on Chinese whitefish processing companies is increasing exponentially. On the one hand, upstream H&G suppliers keep raising prices; on the other hand, semi-finished product buyers are reluctant to accept the price increases, reducing order volumes, which increases pressure on both ends of the processing link.
"Currently, most factories in China have scheduled their production before the Spring Festival, and they are all waiting to see, not wanting to buy at high prices. However, I am skeptical because the supply of raw materials is extremely low, and there is almost no possibility of a price correction in the short term," an American buyer told UCN.
"The main drivers of the true cod price increase are the EU and the UK, not China. Everyone is only buying what they need because no one can afford these prices," said a Chinese processing company executive.
Some large Russian suppliers continue to be bullish on the market and have postponed or suspended quotations.
Pollock raw material prices reach a new high since 2014
In the 47th week, the price of Russian 25cm+ pollock CFR increased by $10/ton to $1,710/ton, surpassing the peak during the pandemic and reaching a new high since 2014.
Industry insiders revealed that Chinese processing factories have been relatively active in purchasing pollock raw materials. Starting in May, there have been successive secondary frozen orders to be fulfilled. The one-time frozen fish from Russia and the US are sold out, and new orders can only be given to Chinese factories at higher prices. Considering that the H&G price is at a historical high, accepting new orders means operating at a loss. To maintain customer relationships, some Chinese processing factories have to make price concessions.
According to UCN's assessment, the FOB price of Russian secondary frozen pollock in November was $3,300/ton, up $50/ton from October.
Several industry insiders said that the pressure on Chinese whitefish processing companies is increasing exponentially. On the one hand, upstream H&G suppliers keep raising prices; on the other hand, semi-finished product buyers are reluctant to accept the price increases, reducing order volumes, which increases pressure on both ends of the processing link.
"Currently, most factories in China have scheduled their production before the Spring Festival, and they are all waiting to see, not wanting to buy at high prices. However, I am skeptical because the supply of raw materials is extremely low, and there is almost no possibility of a price correction in the short term," an American buyer told UCN.
"The main drivers of the true cod price increase are the EU and the UK, not China. Everyone is only buying what they need because no one can afford these prices," said a Chinese processing company executive.
Some large Russian suppliers continue to be bullish on the market and have postponed or suspended quotations.
Pollock raw material prices reach a new high since 2014
In the 47th week, the price of Russian 25cm+ pollock CFR increased by $10/ton to $1,710/ton, surpassing the peak during the pandemic and reaching a new high since 2014.
Industry insiders revealed that Chinese processing factories have been relatively active in purchasing pollock raw materials. Starting in May, there have been successive secondary frozen orders to be fulfilled. The one-time frozen fish from Russia and the US are sold out, and new orders can only be given to Chinese factories at higher prices. Considering that the H&G price is at a historical high, accepting new orders means operating at a loss. To maintain customer relationships, some Chinese processing factories have to make price concessions.
According to UCN's assessment, the FOB price of Russian secondary frozen pollock in November was $3,300/ton, up $50/ton from October.
Original content
In the 47th week, the price of Russian 1-2kg headless and gutted (H&G) true cod increased to $8,900/ton, and the price of Norwegian 1-2.5kg true cod increased to $11,000/ton. The price of Russian 500g-1kg blackline cod increased to $6,500/ton, and the price of Norwegian 800g+ blackline cod increased to $7,500/ton. Several industry insiders said that the pressure on Chinese whitefish processing enterprises is increasing exponentially. On the one hand, upstream H&G suppliers keep raising prices; on the other hand, semi-finished product buyers are reluctant to accept price increases, reducing order volumes, which makes pressure on both ends of the processing link greater. "Currently, most factories in China have scheduled production before the Spring Festival, and now they are all waiting and watching, not wanting to buy at high prices. However, I am skeptical because the supply of raw materials is extremely scarce, and it is almost impossible to see a price correction in the short ...
Source: Foodmate
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