The average export price of Argentine cod reached a four-year high of $2.80 per kilogram ($2,803.7 per metric ton) in February 2022, up 17 percent year-on-year, data released by Argentina’s Ministry of Agriculture, Livestock and Fisheries showed. This is the highest level since cod export prices reached $2.93/kg ($2,931/t) in February 2018.
Affected by the Ukrainian-Russian war, the price of imported salmon and cod has doubled, and one kilogram of salmon has soared from 30 yuan to 50 yuan. Fishmongers say the recent price of cod from Alaska can be as high as SG$90 per kilogram.
The worldwide seafood industry is steeling itself for price hikes, supply disruptions and potential job losses as new rounds of economic sanctions on Russia make key species such as cod and crab harder to come by.