On the raw materials front, Norwegian-origin Atlantic Cod has surged to new heights, currently priced at approximately $6,800 per metric tonne—nearly $1,000 higher than peak levels seen in 2022. In contrast, Russian-origin Atlantic Cod, now around $5,300 per metric tonne, has experienced a downward trend in pricing since the summer, when it hovered around $5,800.

Russian-origin Atlantic Cod remains banned from entering the USA, and while this is a significant factor contributing to the supply constraints on Norwegian cod, it is likely not the sole reason for the shortage.



Looking at global harvest Norway, Russia, and Iceland are the primary fisheries for Atlantic Cod, and current estimates show their combined harvest is about 72,000 metric tonnes (or 160 million pounds) behind the same period last year.

The shortfall is not due to the Icelandic harvest, which has remained steady, with catches expected to increase following the usual summer slowdown. Instead, the bulk of the missing supply can be attributed to Norway and Russia. While it's uncertain where the final Atlantic Cod catch from these two countries will land, their harvests have been declining year-over-year since 2021.

With demand for Atlantic Cod continuing to outpace supply, it's difficult to predict how high the market is willing to go on prices. Additionally, buyers must consider the ripple effects and potential delays caused by the ongoing East Coast port strike, which could further disrupt the supply chain.



Our recommendation is to secure Atlantic Cod if you are presented the opportunity. Additionally, please check out TradexLIVE our seafood offers platform as we have whitefish alternatives available for pickup on the West and East coast.



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