The price of pollock in Russia has increased significantly, and it is expected that prices may rise further in the future

The Russian pollock market is experiencing a price surge, particularly for head and gutted pollock shipped to China, due to a decrease in Russian fillet production in the B season caused by poor fishing conditions. The price of Russian head and gutted pollock exported to China has risen to US$1,080 to US$1,100 per ton, and CEO of the Russian Fisheries Corporation, Savely Kapkin, anticipates the price to reach US$1,200 to US$1,300 per ton by the end of 2024. The reduced supply of Russian fillets is expected to leave a gap in the market in the first quarter of 2025, with Chinese processing plants actively purchasing H&G pollock in anticipation of potential future supply shortages. The demand for fillet blocks in the European market is also expected to exacerbate the shortage.

Recently, the price of Russian pollock market has shown a clear upward trend, especially for head and gutted (H&G) pollock shipped to China. Savely Kapkin, CEO of Russian Fisheries Corporation (RFC), the largest pollock fishing enterprise in Russia, is optimistic about the future market and raised the price forecast for the end of 2024, predicting that the price per ton will rise to US$1,200 to US$1,300. Currently, the price of Russian H&G pollock exported to China has risen to US$1,080 to US$1,100 per ton, a significant increase from the price of US$1,010 per ton in previous weeks. The main reason for this price increase is the decline in Russian fillet production in the B season. Due to poor fishing conditions, the fishing quota in the Western Bering Sea was not fully realized, further driving the price increase. Kapkin pointed out that despite the increase in production by the US fleet, the reduction in the supply of Russian fillets will leave a gap in the market in the first ...