Cod Prices in the United States from 2020 to 2025

2020

• Export Price: The export price per kilogram of cod from the U.S. in 2020 was approximately $4.51. This reflects a steady increase from $3.41 in 2017, indicating a rising trend in export values over the preceding years.

• Context: U.S. cod exports in 2020 amounted to 95 tons, down from 105 tons in 2019, suggesting a slight decline in volume amid global supply shifts. Import prices for cod into the U.S. dropped slightly to $4.14 per kilogram from $4.51 in 2019, possibly reflecting market adjustments during the early pandemic period.

2021-2024

• Import Price Trends: The import price per kilogram of cod into the U.S. saw fluctuations. In 2021, it decreased to $3.65, then rose sharply to $5.44 in 2022, driven by increased demand and supply constraints. Predictions from earlier data suggest a continued upward trend, with estimates of $5.90 in 2023 and $6.50 in 2024, though exact figures for these years aren’t fully confirmed in my dataset.

• Pacific Cod: By late 2024, Pacific cod prices were reported to be rising due to strong domestic demand and reduced supply from key producers like Russia, alongside shifts in Chinese markets seeking alternatives to Atlantic cod from Norway.

• Atlantic Cod: Frozen headed and gutted (H&G) Atlantic cod prices were trending upward by the end of 2024, with industry sources anticipating high prices into 2025 due to a 25% reduction in the Barents Sea cod Total Allowable Catch (TAC) to 340,000 tons.

2025

• Wholesale Price Range: As of February 2025, the approximate wholesale price range for U.S. cod is between $2.73 and $3.41 per kilogram ($1.24 to $1.55 per pound). This is a notable decrease from the $4.51 export price in 2020 and the $3.65 export price reported for an unspecified point in 2025, suggesting a softening in wholesale markets or a shift in data focus (e.g., domestic vs. export).

• Frozen Cod Fillets: In early 2025, frozen H&G Atlantic cod prices from Russia and Norway started the year at record levels with limited volume available, reflecting supply cuts. Pacific cod prices were buoyed by strong U.S. demand, with 2025 harvest rates in Alaska waters under review, potentially stabilizing or increasing prices further.

• Market Outlook: Industry sources expect high prices throughout 2025 due to reduced global cod landings (down 33% over the past decade) and specific TAC reductions. For instance, once-frozen cod fillets were approaching fresh fillet prices ($6.20 per pound in 2023), a trend likely persisting into 2025 given supply constraints.

Summary

• 2020: Export price at $4.51/kg, import at $4.14/kg, reflecting a peak before pandemic-driven shifts.

• 2021-2022: Import prices fluctuated from $3.65/kg to $5.44/kg, showing volatility and a demand surge.

• 2023-2024: Estimated import prices rose to $5.90/kg and $6.50/kg, with Pacific and Atlantic cod prices climbing due to supply limits and demand.

• 2025: Wholesale prices range from $2.73-$3.41/kg as of February, but export and fillet prices remain elevated, likely exceeding $6.00/kg for frozen fillets, driven by tight supply.