“’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.”
(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.
(seafood.vasep.com.vn) Vietnam's tilapia exports reached USD 7 million in June 2026, down 32% compared with the same month in 2025. Nevertheless, thanks to strong growth in the first five months of the year, cumulative tilapia exports in the first half of 2026 totaled USD 69 million, up 67% year on year.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company, a member of the Vietnam Association of Seafood Exporters and Producers (VASEP), has been honored with the "Famous Brand - Competitive Vietnamese Brand 2026" certification at an award ceremony organized by the Vietnam Intellectual Property Association (VIPA).
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