The global cod market in 2025 is witnessing record-breaking prices. According to the latest industry data, Norwegian headed and gutted cod landed in China surpassed the $9,000/ton threshold during week 35, peaking at $9,550/ton on August 26th. The surge has also pushed Russian cod prices higher, narrowing the gap between the two origins.
Norwegian Cod Prices Reach Record Highs
The transaction price of Norwegian frozen Atlantic cod (1–2.5 kg) is now consistently above $9,000/ton.
Auctions in Ålesund reported sales at $9,100/ton and $9,200/ton, reflecting strong demand and solid profit margins.
Traders confirm that Norwegian cod supply remains supported by stable buyer interest, despite higher costs.
Russian Cod Supply Tightens in China
The landed price of Russian cod (1–2 kg) in China rose by $350/ton, representing a two-week cumulative surge of $425/ton.
Importers note that cod scarcity in the spot market is driving buyers to secure supply from multiple origins.
The price difference between Norwegian and Russian cod raw materials continues to shrink.
Haddock Prices Also Rising
The price of Norwegian haddock over 800g jumped to $6,150/ton, up $350/ton from previous levels.
Analysts highlight that retailers avoiding Russian-origin haddock have tightened Norwegian supply, reducing the premium over earlier fishing seasons.
Russian haddock prices remain more stable, but still increased by $125/ton.
US Cod Market Remains Stable (For Now)
The US wholesale cod market has not yet felt the impact of rising overseas raw material costs.
Prices for Icelandic single-frozen fillets and Chinese double-frozen fillets remain unchanged.
Analysts expect a 6-month delay before global cod price increases reach US consumers.
Pacific cod prices in the US have been flat since July 2025.
Saithe Emerges as an Alternative to Cod
The shortage of cod is lifting demand for saithe as a replacement species.
In Norway, frozen saithe auction prices surged to 38.6 NOK/kg in week 34, close to the record 40 NOK/kg mark.
This represents nearly double the price compared to 20.2 NOK/kg in the same period last year.
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