The average export price of Russian fish products fell, not due to market demand

Published Nov 27, 2023

Tridge summary

The average export value per ton of Russian fish products has decreased by 10% so far, with prices of frozen cod fillets and herring falling. This decline in export prices is attributed to sanctions and restrictions imposed by Western countries rather than a reduction in global market demand. Additionally, the cost of fish products increased by 15% in the first half of 2023 due to high bunker fuel prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to news from SeafoodMedia on November 20, the Russian Fishing Vessel Owners Association (ASRF) stated that the average export value per ton of Russian fish products has dropped by 10% so far. In the 10 months of 2023, the export volume of Russian fish products increased by 11%, and the export value increased by only 1%. Among them, the price of frozen cod fillets fell from US$3.65 to US$3.3 per ton, while the price of competitor fish But it's rising. In 2022, the price of Russian cod fillets will be 3% cheaper on average than that of American cod fillets. By 2023, this gap has reached 19% (the price of American cod fillets is US$39,000 per ton). The export price of Russian herring fell by 11% in the first half of 2023, while the price of large Atlantic herring exported by competitors is rising, with Norwegian herring prices rising by 21% and Faroe Islands herring prices rising by 36%. The Association of Russian Fishing Vessel Owners (ASRF) stated that the ...

Source: Foodmate