“’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.”
(seafood.vasep.com.vn) Vietnam’s pangasius industry is facing new opportunities to expand its development space as many localities and businesses begin promoting marine farming models aimed at diversifying farming areas and adapting to climate change. However, for pangasius to truly “go offshore” and develop into a large-scale industry segment, significant challenges related to technology, broodstock, and markets still need to be addressed.
(seafood.vasep.com.vn) Vietnam’s tilapia exports in April 2026 reached USD 11 million, up 92% compared to the same period in 2025. This strong growth indicates that Vietnamese tilapia products are continuing to penetrate and expand rapidly in international markets. Cumulative export turnover in the first four months of 2026 reached USD 49 million, up 151% year-on-year.
(seafood.vasep.com) At VietShrimp Asia 2026, disease management trends in shrimp farming are shifting strongly from treatment-based approaches toward proactive prevention through environmental and pond ecosystem control.
(vasep.com.vn) After a period of strong growth, with export turnover reaching USD 38 million in Q1/2026 — up 174% year-on-year — the sector’s rapid expansion clearly reflects growing market opportunities.
(vasep.com.vn) In the first quarter of 2026, Vietnam’s pangasius exports to the ASEAN bloc reached USD 44 million, up 7% compared to the same period in 2025. After falling to the lowest level of the quarter at USD 9 million in February — reflecting the seasonal slowdown in orders after the festive period — exports recovered strongly to USD 18 million in March, the highest monthly value of the quarter. This development shows that import demand for pangasius in ASEAN remains relatively stable despite short-term fluctuations.
(seafood.vasep.com.vn) On May 11, 2026, the US National Oceanic and Atmospheric Administration (NOAA) announced a positive comparability finding for Vietnam’s swimming crab fisheries, along with those of Indonesia and Sri Lanka, under the Marine Mammal Protection Act (MMPA). With this decision, seafood and seafood products harvested from Vietnam’s swimming crab fisheries will continue to be eligible for import into the US market.
(seafood.vasep.com.vn) After a slowdown in 2025, Vietnam’s tuna exports to Germany showed more positive signs in the first quarter of 2026. However, the recovery remains uncertain as consumer demand in Germany is still cautious, while market competition is increasingly driven by pricing and supply stability.
(seafood.vasep.com.vn) After a sharp decline in 2025, Vietnam’s tuna exports to Israel are showing positive signs of recovery in the early months of 2026. According to Vietnam Customs data, export turnover to this market grew steadily month by month in Q1/2026, reaching nearly USD 10 million, up 33% compared to the same period in 2025. However, compared to Q1/2024, this level remains significantly lower, indicating that the recovery is still in its early stage following last year’s strong adjustment.
(seafood.vasep.com.vn) Entering 2026, the U.S. whitefish market has shown complex developments as global cod supply continues to tighten, while the U.S. trade environment becomes less stable. In this context, the U.S. market has had to become more flexible in sourcing alternative whitefish. However, relying heavily on Alaska pollock is not a long-term solution, as it is a strictly managed fishery with quotas and sustainability regulations, limiting any rapid increase in output to offset cod shortages.
(seafood.vasep.com.vn) Aquaculture, capture fisheries, and seed production activities in Lam Dong in the early months of 2026 continued to show positive signs, with both output and farming area slightly increasing compared to the same period, contributing to maintaining overall industry stability.
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