Norwegian White Fish Auction Prices Hit New Highs Collectively, with Sanctions and Demand as Main Drivers

In October 2025, auction prices of white fish in Norway’s market hit new records collectively. According to Week 39 (September 22-28) data from Norges Råfisklag, Norway’s fishery auction organization, frozen head-and-gut (H&G) cod, haddock, and saithe all saw high prices, with supply-demand dynamics and policy factors driving this round of price increases.

Key Market Conditions for the Three Major Species

1. Cod: Its average price exceeded 90 Norwegian kroner (NOK) per kg (about $9) for the first time, setting a new all-time high. The transaction volume reached 660 tonnes that week, with a cumulative total of over 1,800 tonnes in the previous two weeks. Cod of 1-2.5 kg and 2.5-4 kg specifications were sold at the same price, as buyers were willing to pay high prices regardless of specifications.

2. Haddock: Its average price hit 60.69 NOK per kg, the highest in history. Affected by the U.S. policy to ban Russian haddock imports starting from 2026, the market rose in advance. Compared with two years ago, the price gap between frozen and fresh haddock has widened significantly.

3. Saithe: Its average price stood at 37 NOK per kg, while the mainstream 1.2-2.3 kg specification reached 39.2 NOK per kg—an increase of over 100% from two years ago (18.5 NOK per kg). However, small-sized saithe (below 1.2 kg), which is hard to replace cod, had its price capped at around 32 NOK per kg.

Main Causes of Price Hikes and Future Trends

• Drivers of Price Hikes: The superposition of global demand recovery (increased catering and processing stockpiling), sanctions on Russian fisheries (European restrictions + the U.S. upcoming ban on Russian haddock), and earlier supply gaps (reduced catches + rising cold chain costs).

• Future Key Factors: The U.S. ban on Russian haddock in 2026 may further boost demand for Norwegian white fish. Whether prices will continue to rise depends on subsequent supply volumes and changes in international fishery policies. Costs for downstream aquatic product processing and catering enterprises have already increased, which may affect the end-market.