“’Hideous’ is the term I would use,” Lance Magnuson, managing director at Blue North Trading Co., the sales and marketing arm of cod harvester Blue North Fisheries, told IntraFish.
The price range for Pacific cod on sizes is significant, but suppliers and buyers put longline frozen-at-sea H&G j-cut fish at around $2,600 - $2,800 per metric ton currently (with the caveat that prices vary significantly by size). Compare that with a rough average for the same product last year: $3,100-$3,200 per metric ton.
Pacific cod has taken an obvious hit from the abundant supply of Atlantic cod, but producers say prices have moved up slightly from a few months ago.
“Prices have been going up in response to less supply, and demand has gone up because prices are so damn low,” Magnuson said.
Higher demand has been in part the result of the larger sizes of Atlantic cod, Magnusonand others said. Unlike Portuguese buyers, who have a strong affinity for thelarger-sized cod currently coming out of the
“You can’t take a 3 kg fish and get a proper 4 oz. portion,” Magnuson said, pointing to the needs in, for example, the natural fish market in other parts of
Pacific cod harvests – currently right on target for this season – have a much better size mix. Some 56 percent of the harvest from Blue North’s vessel Blue Pacific is under 2.5 kilograms, Magnuson noted. Thirteen percent is under 1 kg.
Paul Gilliland, senior vice president with cod harvester Clipper Seafoods, agrees: processors prefer a smaller size.
And while they havelearned to handle larger fish, the end-product cansuffer.
“There’s a lot of product that just doesn’t look good,” he told IntraFish. “The fish and chip markets have to hit a certain size. They have to hit that net weight.”
Further helping the market situation for Pacific cod, Gilliland said , is that the oversupply argumenton cod is beginning to fade somewhat.
“It’s becoming more apparent that
The sluggish demand in Europe has several reasons, one European importer told IntraFish, with the most obvious being the higher supply and subsequent drop in prices for
Meanwhile,
“This isn’t the time to sell fish in
The outlook for the remainder of the year is fuzzy at best, but long-term Pacific cod is bankable.
Combined quotas from
Three new Pacific cod harvesters have been under construction, with Alaskan Leader Fisheries’ Northern Leader being launched later this month. Blue North’s new vessel is due for completion in 2014.
Despite that long-term outlook, however, in the near-term, the market in general remains spotty. “There’s no umbrella for this storm,” Magnuson said. “We have to live with what’s going on in the market.”
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
(vasep.com.vn) The Global Shrimp Forum (GSF) 2026 is taking place from September 1–3 in Utrecht, the Netherlands, bringing together around 585 delegates from 40 countries, representing approximately 300 companies and organizations across the shrimp supply chain. Representatives from VASEP are attending the event as part of the Vietnamese delegation, strengthening connections with partners across the global shrimp industry.
(vasep.com.vn) At the international B2B seminar (Hosted Buyer Program) held as part of Vietfish 2026, Mr. Nguyen Hoang Pham, Sales Director of Tai Kim Anh Seafood Processing Joint Stock Company, delivered a presentation entitled “Vietnam’s Shrimp Industry: Changing for Sustainability.” From the perspective of a seafood processor, the presentation highlighted that Vietnam’s shrimp industry continues to play a leading role in seafood exports, but is entering a new phase of competition in which change is no longer an option, but a prerequisite for growth.
(seafood.vasep.com.vn) VIETFISH 2026 may have concluded after three dynamic days in Ho Chi Minh City, but conversations around the exhibition continue to resonate across international trade media, industry organizations, and the social media channels of participating companies.
(seafood.vasep.com.vn) Vietnam’s tilapia industry is maintaining strong growth momentum, with significant room for further expansion in the coming years. In 2025, total tilapia production reached approximately 420,000 tonnes, up 33% from 2024 and 2.2 times higher than in 2015. During 2015–2025, production grew at an average annual rate of around 8.4%. As production and exports continue to expand, food safety control is receiving increasing attention to ensure product quality, meet the increasingly stringent requirements of international markets, and provide a foundation for the sustainable development of Vietnam’s tilapia industry.
(seafood.vasep.com.vn) On the afternoon of August 19, 2026, as part of the Vietnam International Seafood Exhibition – Vietfish 2026, the Hosted Buyer Program continued with the seminar “Vietnam Seafood Outlook 2026–2027: A Strategic Sourcing Destination,” followed by 1-to-1 B2B meetings between international buyers and Vietnamese seafood businesses.
(seafood.vasep.com.vn) Speaking at the Opening Ceremony of VIETFISH 2026 on August 19 at the Saigon Exhibition and Convention Center (SECC), U.S. Consul General Melissa Brown highlighted the important role of the exhibition in connecting Vietnam’s growing seafood industry with buyers, suppliers, and partners from the United States and around the world.
(vasep.com.vn) Tomorrow, August 19, 2026, the Vietnam International Seafood Exhibition – Vietfish 2026 will officially open at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Taking place over three days, from August 19–21, Vietfish 2026 promises to provide a dynamic platform for business networking, trend updates, product experiences and comprehensive cooperation across the domestic and international seafood community.
(vasep.com.vn) The global tilapia market continues to grow, creating significant opportunities for countries with strengths in aquaculture, processing, and exports. Against this backdrop, Vietnam’s tilapia industry is gradually developing toward higher quality, greater product diversification, and broader market reach. At Vietfish 2026, the Vietnam Association of Seafood Exporters and Producers (VASEP), together with the VASEP Tilapia Producers and Exporters Club, will host a joint booth to promote the image and potential of Vietnamese tilapia to domestic and international buyers.
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