Fish & Seafood
Cod, Haddock & Alaska Pollock
14,000
16,000
18,000
20,000
22,000
24,000
26,000
Nov 19 Feb 20 May 20 Aug 21 Nov 21
Norwegian Cod* - NOK/MT Aug 20 Nov 20 Feb 21 May 21
TS11 - Atlantic cod average catch price, NO
At NOK 20,061/MT, the Norwegian Atlantic cod price fell by NOK 3,249/MT (-13.9%) m-o-m in
November 2021, which was the result of softer demand from European buyers. The November 2021
price also contracted by NOK 764/MT (-3.7%) y-o-y, which appears correlated to exchange rate
movements. The NOK appreciated by 2.9% against the EUR y-o-y in November 2021, implying lower
NOK-denominated prices of Norwegian exports sold in EUR, as Norwegian exports to Europe are
typically sold in EUR. Additionally, a higher cod catch quota for 2021 may have added further
downward price pressure.
At NOK 17,114/MT, the monthly average price of Norwegian-landed haddock increased by NOK
2,807/MT (+19.6%) m-o-m and by NOK 2,437/MT (+16.6%) y-o-y respectively, during November
2021. Indeed, the November 2021 price represented a two-year high, due to low catch volumes in key
Northeast Arctic producing countries, including Iceland and Russia. This low availability from
competing suppliers has accelerated demand for Norwegian haddock, where availability remains
plentiful.
The monthly average price of Russian-caught Alaska pollock increased respectively by RUB 3,6kg
(+3.0%) m-o-m, and by RUB 15.5/kg (+14.4%) y-o-y, during December 2021, reaching a 20-month high of
RUB 122.9/kg. The uptick is attributed to slower catch volumes, in addition to improved Chinese demand
for processed Russian pollock. China, the major destination for Russian pollock, restricted Russian
seafood imports through most of 2021, due to fears over importing COVID-19 on fish containers.
However, Chinese buying spiked in December, ahead of the Lunar Year celebrations in February 2022.
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
Nov 19 Feb 20 May 20 Aug 21 Nov 21
Norwegian Haddock* - NOK/MT
Aug 20 Nov 20 Feb 21 May 21
TS12 - North Atlantic haddock average catch price, NO
140
130
120
110
100
90
Dec 19 Mar 20 Jun 20 Sep 20 Sep 21 Dec 21
Russian Alaska Pollock - RUB/kg Dec 20 Mar 21 Jun 21
7J05 - Alaska Pollock fzn Moscow RU
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*November 2021 is the latest available monthly data