“I did not expect prices to go so high,” one Norwegian seller told Undercurrent.
Although the USD/NOK exchange rate is making the price seem higher in dollars for export, it is also up in kroner on the auctions.
“Over the last two months, I have been buying the small haddock at NOK 25/50-26/kg,” another source told Undercurrent. This week, prices are at NOK 26.85/kg, he said.
The prices for the large haddock are also still high, at well over $5,000/mt in dollar terms, he said. Larger haddock are more stable in price, however, with the increase coming more from the dollar exchange rate.
Demand in the US, UK and China along with small volumes is driving the price. This has been exacerbated by ten of the Norwegian longline fleet switching to catch cod and saithe.
“It seems like there will be strong prices for a while,” he said.
“If you want longline haddock, you are going to have to pay for it,” said a source with a trader, mainly dealing in trawl-caught whitefish.
Trawl-caught haddock H&G has stabilized at around $4,100/mt, he said.
For cod, H&G trawl-caught prices are still at $2,850-$2,900/mt for the 1-2 kilogram cod. Prices for the larger fish still lower, but stable.
“Everyone thought that when we had this glut of fish, the market would totally crash. But, you have to remember; there is 150,000 metric tons less haddock in the Barents Sea,” he said.
Longline cod prices are up somewhat, with the H&G price for 1-2.5kg at $3,050-$3,100/mt, with “not the greatest volumes available”, said the first longline source.
Eyes on EU, Norway talks
The eyes of Norway’s longline fleet are — as with the rest of the whitefish sector — on the delayed 2014 bilateral fishing agreement between the European Union.
This is hitting fleets in Norway and the EU, as they are stuck since early January waiting for licenses to fish in their traditional zones, said industry players.
As the EU-Norway talks are wrapping up in Bergen, the industry is eagerly hoping for news of an agreement on quota swaps already this Friday (Feb. 14) or Saturday. However, there are also fears that the repeated failures to reach agreements on Northeast Atlantic mackerel could compromise chances of a quick deal.
(seafood.vasep.com.vn) The year 2025 marks the 30th anniversary of the normalization of diplomatic relations between Vietnam and the United States (1995–2025). In parallel with the nation's progress in international economic integration, bilateral seafood trade has followed a remarkably impressive growth trajectory, expanding from an initial scale of just tens of millions of US dollars to nearly $2 billion annually. This growth has positioned the United States as Vietnam’s largest seafood export market for many consecutive years.
(seafood.vasep.com.vn) On December 12, 2025, the Vietnam Association of Seafood Processing and Export (VASEP) issued document 231/CV-VASEP regarding strengthening measures to combat IUU fishing and working with the Government to lift the EC's IUU yellow card warning.
(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.
(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.
(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.
(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.
(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.
(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.
(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.
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