“Prices for cod and haddock products ex-China have reduced because the H&G price dropped," a UK-based buyer told IntraFish.
“I get the feeling that the Chinese do not have full order books at present and may possibly discount on prices to get orders. The only concern is if the Chinese discount further, how can they do this, and could start cutting corners from the agreed specification.”
The prices for H&G are down since January by the same level as fillet prices, by between 10 percent to 15 percent, said a top executive from a Norwegian fishing company. “Haddock has had the same price development as cod.”
From 2007 to 2012 the total Barents Sea cod quota increased by close to 70 percent and the haddock quota by more than 110 percent, which has, of course, had an impact on the market, he told IntraFish.
Fishing for cod and haddock has been good this year for all nations fishing in the Barents Sea, resulting in big landings over a short period of time. “This has influenced the market both for fillets and H&G.”
The exchange rate between the Norwegian krone and the British pound is accentuating the price drop for fishermen.
“As regards prices for cod fillets, the main market is still the United Kingdom, and the prices for fillets have gone down by 10 percent to 12 percent in pounds since early January until now. In addition to this we have a strong Norwegian kroner and a weak pound, so this adds another 3 percent.”
So the price for cod fillets back to Norwegian fishermen in NOK is down between 12 and 15 percent in only two months.
Pacific to follow Atlantic?
Meanwhile, the Pacific cod price situation has stabilized for now, but a bevy of market factors make the future uncertain.
For Alaska-caught pacific cod, prices increased by 5 percent to 10 percent over the course of last year and have stabilized at that level, Rob Rierson, president and CEO of Canadian seafood supplier Tradex Foods, told IntraFish.
Russia-caught pacific cod has also stabilized but is at a slightly lower level than last year, independent cod trader Daniel told IntraFish.
H&G pacific cod from Alaska is selling for $3,600 (€2,714) - $3,700 (€2,790) per metric ton, an unseasonably high level. It is currently $450 (€339.3) per metric ton higher than Atlantic cod, which is typically more expensive, he said.
But with inventories high, those high prices aren't likely to last, Rierson said.
Processors have been trying to keep H&G prices from coming down by trying to limit supply, either by producing more fillets, and thereby reducing H&G inventories, or through other means.
“Some plants are telling fishermen not to fish because it will push down prices,” Rierson said in Tradex’s weekly market insight video. However, “if fishermen are hungry, they’ll head out anyway," he said.
Paul Gilliland, senior vice president for Clipper Seafoods, told IntraFish the high inventories may be more of a perception than a reality, but he too said processors are trying to decrease inventories from what they were last year. The effort is “not an unusual thing at all when there is an increase in supply.”
Lower prices on similar species are also putting downward pressure on pacific cod prices, such as Alaska pollock.
(seafood.vasep.com.vn) Nearly US$1.7 billion is the projected gap in 2029 between the baseline scenario and a scenario in which Vietnam’s seafood exports grow by 10% annually, according to calculations by VASEP to be presented at Vietnam Seafood Summit 2026. This gap raises a key question for the entire industry: Which markets, products and supply chain improvements will generate the additional growth?
(seafood.vasep.com.vn) Although Germany’s tuna imports have declined, Vietnam’s tuna exports to the market continue to show positive signs. Notably, export value recovered strongly in Q3/2026, and German import data also show Vietnamese products strengthening their position amid competition among suppliers.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
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