Norway’s cod fishing quota was cut in 2014, lowering supply. At the same time, export demand has increased, especially from China. These factors have combined to cause continuing price increases.
Sardine fishing quotas have also been cut, by 70% in the US and 39% in Chile, which has reduced supply and forced up prices on a year-on-year basis. Month on month, however, prices have eased slightly.
A ban on the use of fish aggregating devices in the Western Central Pacific fishing region is due to come to an end on 31 October. Skipjack tuna buyers have been waiting for the ban to end, a situation that is temporarily reducing demand and pushing down prices. The more expensive yellowfin tuna has also seen prices fall, both monthly and year on year.
Farmed Norwegian salmon prices have continued to fall, as a Russian ban on seafood imports from most European countries suppresses demand.
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