New Monthly Price Reporting for Pollock Fillets Proposed by Undercurrent News

Undercurrent News has announced a significant proposal that could reshape price transparency in the seafood market. The organization is advocating for the establishment of monthly price reporting for single-frozen, pin-bone out (PBO) pollock fillet blocks sourced from both Russia and the US, specifically for ex-coldstore sales in Europe.

In tandem with this, UCN is suggesting monthly assessments for double frozen full fillet blocks from China, which utilize Russian headed and gutted (H&G) raw material, under free-on-board (FOB) terms from China. This initiative aims to enhance the pricing clarity of these products, particularly within the European market.

The Context of the Market

Europe serves as the primary marketplace for various types of pollock fillets. The pricing levels of Russian and US PBO fillets in ex-coldstore Europe are considered vital benchmarks on a global scale. Similarly, the market for Chinese double-frozen fillets, based on Russian H&G, is largely focused on Europe as well. While some suppliers transport their goods on cost and freight terms, FOB remains the predominant delivery condition, placing the shipping responsibility on the buyer.

Timing of Price Assessments

The announced price assessments will be published on the third Thursday of each month, with the inaugural report set to land on September 18. This timely reporting is designed to assist industry players in making informed decisions.

Details of the Proposed Assessments

Single-frozen US Pollock Fillet Blocks, PBO, ex-coldstore Europe, UCN

• Species: Alaska pollock (Gadus chalcogrammus)
• Origin: US
• Reference: Ex-coldstore, Europe
• Source: UCN Benchmark
• Type: PBO, single-frozen

The monthly price assessment for single-frozen US pollock PBO fillet blocks will reflect the current market level for major A and B season contracts of MSC-certified fillet blocks. Typically, these major contracts are established months in advance, often culminating in annual agreements. Although fishing efforts during both A and B seasons are somewhat predictable, the timing for signing major contracts can fluctuate based on market conditions.

Single-frozen Russian Pollock Fillet Blocks, PBO, ex-coldstore Europe, UCN

• Species: Alaska pollock (Gadus chalcogrammus)
• Origin: Russia
• Reference: Ex-coldstore, Europe
• Source: UCN Benchmark
• Type: PBO, single-frozen

For Russian fillets, the assessment mirrors the major A and B season contracts for MSC-certified PBO fillet blocks and reflects current market trends based on a survey of both buyers and sellers. Unlike the US, Russia does not have a formal division into A and B seasons, but the Sea of Okhotsk season, starting January 1 through late April, is often classified as A season.

Double-frozen Full Fillet Pollock Blocks, FOB China, UCN

• Species: Alaska pollock (Gadus chalcogrammus)
• Origin: China (using Russian raw material)
• Reference: FOB China
• Source: UCN Benchmark
• Type: Full fillet block, double frozen

The assessment for double-frozen full fillet pollock blocks will reflect spot pricing sourced from Russian H&G raw materials. Notably, full fillet blocks constitute a significant portion—up to 70%—of Chinese production, establishing them as a key benchmark. The European Union constitutes the primary market, with Germany leading in imports, followed by France, South Korea, the UK, and the US, though the latter has halted imports from Russia.

Expansion of UCN Pricing Assessments

This proposal arrives amid the expansion of UCN’s pricing portfolio, which now includes newly launched US wholesale benchmarks for wild Alaskan salmon, Dungeness crab, and Chilean seabass (toothfish), increasing their total offerings to 577 datasets.

Implementation Timeline and Stakeholder Involvement

To align the service with current market dynamics, UCN encourages stakeholder feedback through September 26, 2025. Stakeholders may direct their thoughts and queries to [email protected].

All feedback will be seriously taken into account, allowing for possible modifications to the assessment methodology.

Thank you for your ongoing support as we seek to develop a transparent and robust price reporting service in the seafood industry.

UCN Team

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