Seafood Costs Climb
Seafood prices rise over 6% due to tariffs, quotas, and fuel costs.
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Seafood prices in the U.S. are rising fast. Seaport Fish, a retailer and wholesaler in Rye, N.H., has seen a 6.2% jump in total seafood costs since May 2026, with fresh fish up 7.4% and frozen up 7.5%, according to Yahoo Finance. The surge is being driven by a rare collision of forces: steep tariff hikes, dramatic fishing quota cuts, and a sweeping new European ban on Russian fish.
The pain extends well beyond one shop. SeafoodSource reports that frozen seafood prices nationwide jumped 11.6% in May 2026, while shelf-stable products rose 11.7%. Volume sales of frozen seafood dropped 6.3% in the same month, a sign consumers are hitting a price ceiling.
Tariffs and Fuel Costs Are Squeezing the Supply Chain
About 80–90% of seafood eaten in the U.S. is imported, making prices very sensitive to trade policy. Gary Morrison, head of strategy at Undercurrent News — a price reporting agency for the seafood industry — calls tariffs and higher fuel costs the "key drivers of price inflation" across the entire value chain. The Trump administration imposed a 10% tariff on Icelandic cod and high duties on shrimp from India, sharply raising the cost of bringing fish to American shores, according to Undercurrent News.
Morrison notes that many retailers had been shielded by stockpiles bought before the latest tariffs kicked in. Those buffers are now running out. Restaurants and grocery stores are finally feeling the full cost. Haddock, once a cheap staple in New England, is becoming what one restaurant owner called a "luxury item," according to CBC News.
Haddock Quotas Slashed in Canada and Iceland
Canada's Department of Fisheries and Oceans cut haddock fishing quotas by 57% in southwestern Nova Scotia and the Gulf of Maine, effective April 1, 2026, according to CBC News. The cuts were triggered by declining fish stocks. They immediately tightened supply for retailers across North America.
Iceland is not far behind. Its Marine and Freshwater Research Institute recommended a 20% reduction in haddock catch limits for the 2026/27 fishing year in June, according to Arctic Portal. Poor fish recruitment — meaning fewer young fish surviving to adulthood — between 2022 and 2024 forced scientists to act. Iceland has already caught 99% of its current haddock quota. These back-to-back cuts are removing a massive amount of supply from the global market at the same time.
EU Bans Russian Cod, Removing Millions of Tons From Western Markets
The European Union delivered another blow to global fish supply on June 10, 2026. European Commission President Ursula von der Leyen announced the EU's 21st sanctions package against Russia. For the first time, it included a complete ban on Russian cod, according to SeafoodSource. Von der Leyen said the EU must target sectors with the "highest impact" on Russia's war economy.
The scale of the disruption is enormous. The EU imported nearly 15,000 metric tons of Russian whitefish in March 2026 alone. All of that supply must now come from somewhere else. Suppliers are already pivoting to more expensive sources in Norway, or switching to alternatives like pollock and farmed tilapia. Russia's embassy called the ban a move that would cause "deep shortages" for European consumers, according to SeafoodSource.
Prices Expected to Keep Rising Through 2026
The USDA's Economic Research Service forecast in February 2026 that seafood prices would rise faster than their 20-year historical average all year, according to SeafoodSource. That prediction is playing out. In Maritime Canada and New England, the cost of a haddock dish has jumped $2–$5 per serving at restaurants, according to CBC News.
There is little relief in sight. Multiple supply shocks — quota cuts, tariffs, the Russian ban, and high fuel costs — are all hitting at once. Consumers are already responding by buying less frozen fish and shifting toward cheaper proteins like chicken. Unless trade policy shifts or fish stocks rebound quickly, seafood will remain expensive well into 2027.
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