The raw material prices of COD and haddock are strong, and China’s imports are slightly reduced
By: Date: 2022-07-14 Categories: Internationalfood Tags: ,

On the other hand, it is reported that Norway will reduce the Barents Sea fishing quota by as much as 20%next year, and the general trend of strong prices may continue until next year.
A trader told Ucn,”the CFR price of 1-2kg Russian cod exported to China remains at $5800/ton, and the price of 1-2.5kg Norwegian Cod is slightly higher than $200-$300/ton.”
“So far, I don’t see any reason for price decline unless demand plummets. Fishing output is relatively weak, and the quota may be reduced by 20%in 2023. The market seems to maintain a stable situation.” A British importer (source a) said.
There are signs that China’s raw material import level is showing a slight downward trend. A Chinese processing industry person said that Norwegian prices fell slightly,”I have a feeling that the market is falling slightly, and the inventory is relatively high.”
Another Chinese source (source b) said:”I don’t think (the market is falling back), which depends on the specific market you are concerned about. On the whole, the price has not changed, especially in China, where the price was pushed to a high point. 1-2kg (h&g) Norwegian Cod raw material was as high as $6300/ton and lasted for several weeks. Now it has fallen back to about $6000/ton, and no significant changes have been seen in other markets.”
According to the statistics of the Norwegian Seafood Bureau (NSC), the export of frozen cod remained at a high level in the 26th week (June 27 to July 3), and the price exceeded NOK 50/kg for seven consecutive weeks. The latest FOB price NOK 53.74/kg, slightly higher than the previous week and 42%higher than the same period last year.
 The market trend of haddock is similar to that of true cod
Sources said that the price of 500g-1kg Haddock (CFR China) was in the range of $4000-$4300/ton.
“The supply of haddock is not much, but the demand is relatively flat. Summer months are usually not peak seasons. The price is stable at a high level, especially when the price of haddock is high, the demand for Haddock has an upward trend.” Source a said.
Source B said,”we are still selling Haddock products. As long as the processing quality is good, customers can accept it. At present, China’s processing industry has a good demand for haddock.”
According to the statistics of the Norwegian Marine Products Bureau (NSC), the price of haddock in the 26th week was NOK 35.15/kg, an increase of 29%over the same period last year, but the export volume doubled over the same period last year to 1328 tons.
  The supply of COD and haddock will be tight in the future
During the North Atlantic seafood Forum (NASF), Eldar FARSTAD, CEO of Leroy havfiske, a subsidiary of Norwegian Larry group, said:”we predict that the fishing quota (TAC) of Norwegian Cod and haddock will be reduced by about 20%next year.”
In 2022, the Norwegian Cod quota was 708480 tons. If it were reduced by 20%in 2023, only 566784 tons would remain (excluding the unfinished quota).
Norwegian white fish producer insula coo Morten Jensen agreed:”the quota of COD is likely to be reduced by 20%, haddock will be reduced by 10-15%. The quota of green cod is expected to increase by 20%.” In 2022, the Norwegian Haddock quota was 178532 tons.