Global pollock prices will continue to decline due to increased catch
Published Jul 22, 2024
Tridge summary
A new report by the Food and Agriculture Organization (FAO) forecasts a decrease in pollock prices due to a rise in catch volume. The global pollock catch is projected to increase by 12% in 2024, led by Russia, the main producer. This surge in production is expected to put downward pressure on pollock prices, potentially leading to competition with cod, as demand for pollock offsets a decline in cod supplies. Last year, pollock prices fell by 23% on average, and experts anticipate this trend to persist into 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In a new FAO report, experts predict a further decline in prices for pollock products due to an increase in the volume of catch of this fish. At the same time, demand for pollock will stimulate a decrease in cod supplies. According to experts, in 2024 the global catch of pollock will increase by 12%, to 3.7 million tons. Russia will remain the main producer. Last year, Russian fisheries producers produced 1.9 million tons of this type of fish; this year the industry expects the catch to increase to 2 million tons. High levels of pollock production will impact the global market. According to FAO analysts, in 2023 the average price of pollock products on the world market ...
Source: Fishretail
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