Canned fish prices are expected to rise in 2025: experts attribute this to a shortage of raw materials and increased costs in Russia

Published 2024년 12월 18일

Tridge summary

The article highlights the significant rise in prices for herring and mackerel, key raw materials used in the fish canning industry located in the western part of the country, due to poor global fishing conditions. This has led to an anticipated price increase of over 10-15% for canned goods in the most affected segments, with a smaller increase for other fish species. The price hike is further exacerbated by the cost of imported components and the depreciation of the ruble. Additionally, the article mentions a 30-60% increase in wages for workers in the fishing industry, high staff shortages, and efforts by manufacturers to offset these costs through price increases, with some experiencing challenges in achieving the expected retail sales prices.

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

Original content

The main fish canning plants are located in the western part of the country, and their products are mainly based on raw materials from the Atlantic - herring, sardines and mackerel. However, this year there has been a significant increase in prices for these types of fish due to unfavorable conditions for global fishing: the cost of mackerel has increased by more than 1.7 times, and herring - by 60%. Raw materials are a key part of the cost of canned goods, so experts assume that in the most critical segments the increase in prices may be more than 10-15%. At the same time, prices for canned goods from more successfully caught fish species will increase by 5-10%. In addition, the growth in prices is affected by the costs of imported components, such as canned goods and tomato paste, which have also become more expensive against the backdrop of the weakening ruble. For example, the cost of vegetable oil has increased by 40%, and the salaries of workers ...

Source: Fishretail