Russian pollock prices have risen significantly and are expected to rise further in the future

Recently, the price of Russian pollock market has shown a clear upward trend, especially for head and gutted (H&G) pollock shipped to China. Savely Kapkin, CEO of Russian Fisheries Corporation (RFC), the largest pollock fishing enterprise in Russia, is optimistic about the future market and raised the price forecast for the end of 2024, predicting that the price per ton will rise to US$1,200 to US$1,300. Currently, the price of Russian H&G pollock exported to China has risen to US$1,080 to US$1,100 per ton, a significant increase from the price of US$1,010 per ton in previous weeks. The main reason for this price increase is the decline in Russian fillet production in the B season. Due to poor fishing conditions, the fishing quota in the Western Bering Sea was not fully realized, further driving the price increase. Kapkin pointed out that despite the increase in production by the US fleet, the reduction in the supply of Russian fillets will leave a gap in the market in the first ...