April 15, 2014
H&G Pacific and Atlantic cod prices are ticking up as the low prices of the past year, plus the cutback in the availability of haddock, have spurred an expansion of demand. Fillet prices have inched up this winter also on some items.
Collar on H&G products, for refresh and processing in China, have been stable at around $2450 per ton, vs a 2013 price of $2000 to $2200.
Japanese prices for J-cut (Collar off) have fallen as the end of the winter cod consumption season approaches, from around $3600 per ton to $3400-$3500 in March, say some exporters. However, some expect prices to rebound towards the end of the year.
Meanwhile, Blue North Fisheries director Lance Magnuson told Minato Tsukiji newspaper that his company's sales have expanded a lot in North America. He says that he expects 40% of their pacific cod sales to go to the US this years, vs only 20% in 2013.
This stronger demand in the US for cod is reflected in the current import statistics.
Frozen cod fillets have increased 17%, with most of the increase coming from China and Norway.