US pinbone out (PBO) fillet blocks have dropped below historic highs of around $5,000 (€4,576) per metric ton, with US producers pointing to Russia offering discounted product as a cause.

Markets for Russian pollock were upended by Vladimir Putin's invasion of Ukraine last year, with direct exports to the United States banned, significant tariffs in the UK, and several major private companies turning away from Russia altogether.

However, Russia has continued to sell into China, a major market, and has also seen its pollock exports to the European Union rise by double digits compared to last year.