Russian Pollock raw material is holding firm at $1,550 to $1,580 per metric tonne U.S. dollars, but processors in China caution that prices are likely to climb steadily. With many plants already committed to EU orders, supply pressure is building. Pollock is increasingly being positioned as a substitute for Atlantic Cod and Haddock, both of which have reached unprecedented highs.

Norwegian Haddock has surged to $6,450/MT, rising by $300 in the past two weeks, driven by new U.S. NOAA policy impacts that are reverberating across supply chains. In contrast, Russian Haddock pricing has eased slightly, dipping from $5,950 to $5,900. This divergence highlights the growing importance of origin strategy: Norwegian supply remains a premium product, while Russian origin offers buyers a cost advantage, albeit with heightened geopolitical and trade risks.



Russian Atlantic Cod rose to $8,600/MT (up $100), while Norwegian Cod hit $9,550 (up $300) and could exceed $10,000 within a month. With budgets under strain, buyers should consider Pollock or Russian Haddock for short-term relief and secure long-term Cod contracts to hedge further escalation.

Alaskan Pacific Cod remains on a steady upward trajectory. Longline product has advanced to $7,300/MT China, while trawl product is trading around $6,800. The differential between longline and trawl supply provides options for buyers, though both trends suggest steady strengthening in the weeks ahead.

Pink Salmon has emerged as one of the tightest markets. Prices have jumped from $3,400/MT at the start of the season to $4,100, as Alaskan supply has been over-committed. With availability shrinking, further upward adjustments are expected. As we are in the tail-end of the Pink salmon harvest, both Alaska and Russia have only reached 80% of their forecast and although pink salmon harvests are higher than last year, they are the lowest for an odd-numbered year in about a decade.

Our recommendation for European buyers is to secure Pollock early as a Cod/Haddock substitute, balance Norwegian premiums with Russian value, lock in long-term Cod contracts, use trawl Pacific Cod as a steadier option, and act quickly on Pink Salmon before prices rise further.



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