By Liz Cuozzo/Expana – January 31, 2026
The 2026 Pacific halibut season quota has been set at 29.33 million pounds coastwide, marking the lowest total allowable catch in the more than 100-year history of the fishery.
US allocations are largely unchanged from 2025, whereas British Columbia’s quota was reduced by approximately 7 percent due to ongoing stock concerns.
Under the International Pacific Halibut Commission (IPHC) framework, the season is scheduled to run from March 26 through December 7, 2026, continuing the emphasis on conservation and a tightly constrained harvest profile.
The 2025 season highlighted the impact of these limitations. Reported landings declined approximately 12.9 percent year over year, reflecting both reduced quotas and slower catch rates. As harvesters struggled to fully utilize allocations, particularly across key Alaskan and Canadian regulatory areas, market prices responded accordingly. Values reached record highs by early April and remained firm through December, as incremental supply failed to emerge.
This trend over the past three years of declining landings paired with progressively lower quotas has made sourcing raw material for the frozen Pacific halibut market increasingly challenging. Strong fresh demand continues to absorb much of the limited catch, leaving less product available for freezing. As a result, frozen offerings that do surface are being quoted at record-high levels, with pricing well above historical norms, underscoring the tight supply environment heading into 2026. Current Frozen halibut toted 40-60 lbs. are trading 34.94% higher than this time last year.
Against this backdrop, Atlantic halibut continues to play a key role in filling supply gaps. Imports have remained steady over the past three years, with year-to-date volumes from January through October totaling approximately 12.5 million pounds. While Atlantic halibut cannot fully offset the structural constraints facing the Pacific fishery, its consistent import flow has provided buyers with an important alternative as Pacific availability tightens.
While pricing was firm through 2025, the new year began slightly lower than in previous years. Market participants, especially in the Northeast, report quiet to fair demand, which may be attributable to the softer start.
Lower offers are already emerging, with a $2.00 per lb. decrease observed most recently. When examining the past three years, a decrease of approximately $4.00 per lb. in January appears to be the norm. This seasonal adjustment follows the typical post-holiday pattern, with demand moderating and fishing effort gradually increasing.
The structural constraints facing Pacific halibut continue to reshape the market, with record-high frozen Pacific pricing contrasting against Atlantic imports that provide essential supply relief while maintaining familiar seasonal patterns heading into 2026.
