Demand was low over the course of February, but prices generally moved up, especially for groundfish.

The Atlantic cod market continues to be under stress as catches of Atlantic Cod are likely to decline in 2023, for the first time in history under the 1 million tonne mark.

There will be a decline in production for all major cod-producing countries, resulting in an increase in cod prices throughout the year.



Consumers may switch to other species like Alaska Pollock, Pangasius, and Tilapia, but salted cod importers will continue to rely on cod species to meet the demand for cured cod, particularly in Southern Europe.
If the geopolitical situation remains stable, salted cod products should see a reduction in prices as we approach what is traditionally a period of lower consumption of these types of products.

The Global Container Freight Index was $2,214 U.S. on January 27, 2023 which is well below last year’s level but still much higher than pre-COVID levels



Nonetheless, current container prices may ease transport of frozen freight to Europe, with the exception of disruption that may be caused from geopolitical tensions.

Our recommendation is to daily check our TradexLIVE Seafood Offers Portal and to have your Tradex Rep sign you up for the daily spotlight emails.

LENT IS HERE!
Lent runs from Feb 22nd to April 6th 2023.
Check out our 2023 LENT Menu

--- If you are not already, be sure to subscribe to our Weekly Seafood News Update using the signup form below.