The pace of the harvest remains consistent with previous years, but historical data shows annual catch numbers have been consistently decreasing since 2017.

At the Annual Groundfish Forum in October 2023, global Atlantic Cod catches were forecasted at 791,000 metric tonnes for 2024, down from 921,000 in 2023, and 1.08 million in 2022.

On the market side, Norwegian Cod raw material prices are at record highs, ranging between $6,000 to $7,000 per metric tonne in China, compared to around $4,700 at the same time last year. Chinese processors are pushing back at these prices, but finished product prices have already started to rise.



For Russian Atlantic Cod raw materials, the price disparity with Norwegian Cod continues to widen. However, Russian Cod is banned from entering the USA.

Some processors anticipate an impending market crash, yet current inventory levels appear limited. Only time will tell how pricing and supply will stabilize.

Our recommendation is to buy hand to mouth on Atlantic Cod, additionally, inform your Tradex Foods representative of your needs to stay updated on this product category.

If the final harvest figures remain close to those of 2023, then from now until the end of the year, we can expect around 270,000 metric tonnes more from Iceland, Norway, and Russia.



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