This surge is directly tied to the looming NOAA Fisheries U.S. ban on Russian-origin fishery products, under the Marine Mammal Protection Act (MMPA), set to take effect on January 1, 2026, which will further limit supply options going into 2026. Record-high levels for cod and haddock are also contributing to rising Russian H&G pollock prices, as buyers seek lower-cost alternatives within the whitefish sector. Haddock is now about the same price Atlantic Cod was about 1 year ago, and substitution remains limited, with tightness across all major species keeping values elevated.

Global haddock catches were forecasted to continue a year-over-year downward trend where the top three harvesting countries are Norway, Russia, and Iceland. In the joint Norwegian-Russian fishery, current landings are about 55,000 MT, 23% from 2024’s total and 40% from 2023. Iceland’s fishery, by contrast, is moving at nearly the same pace as last year, with roughly 60,000 MT harvested by the end of September, and looks on track to close the year at around 80,000 MT. Taken together, these producers are expected to deliver an additional 40,000 MT before year-end, keeping global haddock availability below historic levels.



Tariff barriers continue to weigh on U.S. supply. Frozen haddock fillets from China remain subject to a 30% duty, and while the suspension of an additional 25% tariff has been extended until November 29, 2025, uncertainty remains beyond that date.

In the first half of 2025, U.S. haddock imports totaled USD 115 million from 13,000 tonnes, led by Iceland at 42% share of U.S. imports, then China 35%, followed by Norway at 8%, with the Faroes, Vietnam, Canada, and Indonesia providing smaller but important contributions. For perspective, total U.S. haddock imports in 2024 reached USD 182 million, a figure exceeding Norway’s entire haddock export portfolio - underscoring the scale of U.S. demand and its reliance on multiple suppliers.

Our recommendation is that buyers move quickly to lock in contracts with Norway, Iceland, and Canada, since prices are already high and will likely climb even more once the U.S. ban on Russian haddock takes effect in January 2026. It’s also important to spread supply across different sources - even China, despite tariffs and to be ready for firm prices across all whitefish and less availability on the spot market. With Europe chasing the same fish, building stronger long-term relationships with key suppliers will be the best way to secure volumes heading into 2026.



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