Russian pollock raw material has softened slightly, trading around $1,530 to 1,550 per metric tonne CFR China. Earlier attempts by Russian fleets to push values back toward $1,600 met limited success, as Chinese processors shifted their buying focus to salmon.

Despite the modest decline, prices remain historically high, leaving little room for meaningful cost relief in the European reprocessing supply chain.

Cod continues to be the most expensive and volatile species in the whitefish category. Russian Atlantic cod has risen again to $8,050 per metric tonne CFR China, up $300 in just a few weeks, while Norwegian Atlantic cod remains firm at $8,650.

With Norway’s quota now 90% exhausted, supply-side pressure shows no sign of easing. For European buyers, cod represents a significant cost burden moving into Q4, with limited prospects for downward correction in the near term.



In contrast, haddock has shown some softening. Norwegian haddock has edged down to $5,800, while Russian haddock is trading at $5,650.

This represents a modest decline from earlier peaks, providing buyers with one of the few opportunities for price relief. Still, current values remain elevated compared to historical averages, and the market could rebound quickly if demand shifts.

Alaskan longline Pacific cod has pushed above $7,000 CFR China, while frozen-at-sea trawl product remains around $6,500. With U.S. and Chinese processors both competing for supply, Pacific cod continues to firm. For European importers, the upward movement further narrows substitution options against Atlantic cod.

Russian pink salmon raw material is holding at $3,900–4,000, with chum salmon in the range of $5,600–6,000 CFR China. These levels are now broadly aligned with Alaskan pricing—a major departure from past years when Russian salmon was a cheaper alternative.

Industry sources report that around 90% of Russian salmon is being consumed domestically, a direct consequence of U.S. sanctions.

The pivot has been remarkably successful, tightening export availability and eroding price competitiveness for China and international markets.

This means fewer Russian-origin offers and stronger alignment with Alaskan price structures, raising the likelihood of sustained tightness in global salmon supply through the remainder of the season.

Our recommendation to buyers is to lock in critical Q4 volumes early, take advantage of short-term opportunities in haddock, diversify sourcing across species and origins, and prepare budgets for continued elevated pricing, as cod remains at record highs, pollock stays costly, Pacific cod continues to firm, and salmon supply is structurally constrained by Russia’s domestic absorption.



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