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.
On Monday, the FOB auction price of 40 tons of 1-2.
5kg cod reached as high as NOK 49.
20/kg (last week's price of NOK 43/kg), the source said, setting a record; it was trading at NOK 45.
30/kg on Tuesday
.
Chinese CFR prices are also on the rise, with Norwegian offers as high as $5,300-$5,500/t for 1-2.
5kg; Russian cod prices are around $5,100/t
.
5kg; Russian cod prices are around $5,100/t
.
Before the US subprime mortgage crisis in 2008, the real cod price once exceeded $5,000/t, and then the market crashed and the price fell to the $2,000/t range
.
.
A Chinese processing industry source said, "We heard that the price of Norwegian cod is as high as $5,500/t (CFR), but we don't know if there is still a deal.
The price is too crazy and we don't know if it can be sustained
.
"
The price is too crazy and we don't know if it can be sustained
.
"
In 2022, Russia holds 40% of the cod fishing quota in the Barents Sea, or 729,480 tons
.
“It is risky to buy Russian raw materials because of the uncertainty of payment,
” said another Chinese source
.
.
“It is risky to buy Russian raw materials because of the uncertainty of payment,
” said another Chinese source
.
Many people in the industry are also worried that the EU and the United States may impose trade sanctions on Russia for seafood, and some supermarkets in the UK have already removed Russian fish from their shelves
.
What's more, Russian raw materials processed in China may also be subject to sanctions
.
.
What's more, Russian raw materials processed in China may also be subject to sanctions
.
"Unlimited price increases for raw materials can only lead to an increase in final products
.
Most customers can understand that, after all, everyone knows about inflation, but some retailers may find it difficult to accept it in a short period of time
.
" said Nielsen, president of European company Espersen
.
.
Most customers can understand that, after all, everyone knows about inflation, but some retailers may find it difficult to accept it in a short period of time
.
" said Nielsen, president of European company Espersen
.
On the other hand, haddock prices were relatively stable
.
According to sources, the CFR Chinese price of 1kg+ haddock is still at $4,200/t; the Norwegian bidding price for below 800g FOB is around NOK 33/kg
.
.
According to sources, the CFR Chinese price of 1kg+ haddock is still at $4,200/t; the Norwegian bidding price for below 800g FOB is around NOK 33/kg
.
However, according to the statistics of the Norwegian Seafood Bureau, the export price of frozen haddock in the ninth week of 2022 (February 28-March 6) has increased, and the weekly price has increased by NOK 12 NOK48.
14/kg
.
14/kg
.
