“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) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
(seafood.vasep.com.vn) June 2026 brought encouraging signs for Vietnam's tuna exports, with export value rising 20% year-on-year to nearly USD 72 million. However, this increase has yet to offset the prolonged slowdown seen in key markets such as the European Union (EU), where import demand remains weak. The outlook for the second half of the year is expected to become more challenging as freight rates continue to climb.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the Vietnam Association of Seafood Exporters and Producers (VASEP), in collaboration with the Agency for Domestic Market Management and Development under the Ministry of Industry and Trade, will organize the Domestic Seafood Supply–Demand Matching Program on the morning of August 20, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City. The program aims to foster direct business connections between Vietnamese seafood producers and processors and domestic distributors, retailers, and foodservice channels.
(seafood.vasep.com.vn) The Cooking Show will be one of the most engaging experiential highlights of Vietfish 2026. Taking place over three days, from August 19–21, 2026, at Hall B1, SECC, Ho Chi Minh City, the event will offer visitors a vibrant culinary space where Vietnamese seafood is showcased through its flavors, stories, and real-life culinary applications.
(seafood.vasep.com.vn) Vietnam's pangasius exports reached USD 205 million in June 2026, up 5% compared with the same month in 2025. Cumulative export value for the first six months of the year totaled USD 1.1 billion, an increase of 12% year-on-year. Growth was primarily driven by strong demand from China and CPTPP markets, while exports to the United States and Brazil continued to decline.
(seafood.vasep.com.vn) In the first six months of 2026, Ha Tinh province continued to implement comprehensive solutions to combat IUU fishing; strictly manage the fishing fleet, control fishing vessels entering and leaving ports, operate vessel tracking devices, trace the origin of seafood, and severely punish violations.
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