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    Home > Food News > Food Articles > Norwegian cod prices fell, and the price gap with Russia narrowed to less than $200/ton

    Norwegian cod prices fell, and the price gap with Russia narrowed to less than $200/ton

    • Last Update: 2022-09-07
    • Source: Internet
    • Author: User
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    price china
     
    At the beginning of the Ukrainian war, the price difference between Norway and Russia was as high as $1,000/t, but it lasted for a short period of time.
    With the decline of Norwegian supply, Chinese merchants could only choose to buy from Russia
    .
     
    A European importer said: “Russian suppliers have been pushing up raw material prices to approach Norwegian levels
    .
    Russian catch still flows freely into the European market, Chinese processed products are not affected by the US ban and UK tariffs, the market seems There is not much resistance
    .
    So I think Norwegian prices will be firmer, even if market demand falls as raw material prices rise
    .
     
    The source also pointed out that the Barents Sea cod and haddock quota will be cut by 10%-20% in 2023, and considering that some of the 2021 quota is retained until 2022, the actual reduction next year may be even more
    .
     
    According to statistics from the Norwegian Seafood Council (NSC), as of the 33rd week, the cumulative production of cod in Norway was 287,616 tons, equivalent to 75% of the total quota (385,256 tons)
    .
    Norway's quota for 2022 is 33,467 tonnes, with another 50,000 tonnes unused from last year
    .
    In the 34th week, the price of frozen cod in Norway fell sharply.
    The FOB Norwegian price fell from NOK 56.
    94/kg a week ago to NOK 52.
    24/kg, a decrease of NOK 4.
    7/kg
    .
     
    Throughout the summer months, the price of Norwegian cod remained above NOK 50/kg, up 50% from the same period last year.
    Its products are mainly sold to the EU, China and UK markets
    .
     
    The source pointed out that the price difference between Norway and Russia is also narrowing.
    The price of 800g+ Norwegian haddock (CFR China) is currently $4,200/t, and the smaller size is $100/t cheaper; the price of Russian haddock under 1kg is $3,900/t
    .
     
    According to the data of the Norwegian Seafood Bureau, as of the 33rd week, the cumulative production of Norwegian haddock was 67,794 tons, and the total quota this year was 101,636 tons (including the unused quota last year), and the quota completion rate was 67%
    .
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