In Alaska, the pace of Pacific Cod and Pollock landings during the start of the “A” Season are now tracking ahead of the same time last year. Over 30,000 metric tonnes of Pacific Cod has been landed equating to about 18% of the total allowable catch.

Last year about 140,000 metric tonnes or 85% of the TAC was harvested by the end of the year - inline with historical averages.

For Pollock, over 160,000 metric tonnes have now been landed this season equating to about 10 of the 1.53 million metric tonne TAC. Last year about 1.46 million metric tonnes had been landed equating to about 96% of the TAC - also inline with historical averages.



In Russia, the pace of Pacific Cod and Pollock landings during the start of the Season also seems inline with the same time last year. About 19,000 metric tonnes of Pacific Cod has been landed equating to about 14% of the total allowable catch.

Last year about 111,000 metric tonnes or 80% of theTAC was harvested by the end of the year - also inline with historical averages.

For Pollock, about 390,000 metric tonnes has been landed this season equating to about 16% of the 2.42 million metric tonnes TAC. Last year about 2.08 million metric tonnes had been landed equating to about 88% of the TAC - also inline with historical averages.

Comparing the 2 largest Pacific Cod and Pollock raw materials supplying nations, Alaska will produce about 140,000 metric tonnes of Pacific cod versus Russia at 130,000.

For Pollock, Alaska will produce about 1.4 million metric tonnes versus Russia who will produce about 2 million metric tonnes.

An imbalance of supply that will continue to strain North American markets as Russian Pacific Cod and Pollock remain strictly banned from entering the United States and Canada.



As Chinese processors start coming back online, we will have better confirmation as to where current prices are; however prior to the Lunar New Year closures we reported that U.S. Pacific cod was moving above $8,500 with limited offers, H&G pollock remained over $1,700 amid low China inventories, and Norwegian haddock was near $7,800 — with Atlantic cod now pushing toward $11,000 per metric ton - but now the market has tightened slightly more since then.

Our recommendation is that buyers continue to proactively secure near-term coverage, particularly for Atlantic cod, pollock, and Pacific cod.

--- If you’re not already, be sure to subscribe to our 3-Minute Market Insight for seafood updates and insights delivered right to your inbox.