Russia: Canned fish to rise in price by 15% due to reduced catch and increased costs

Published 2024년 12월 17일

Tridge summary

The article highlights the significant price surge for canned fish products made from Atlantic raw materials such as herring and mackerel, with increases of 1.7 times for mackerel and over 60% for herring due to declining fish stocks and high raw material costs. Additionally, the article points out the impact of increased costs for imported components like cans, tomato paste, and vegetable oil, coupled with a significant rise in personnel costs, leading to an anticipated price increase of 10-15% for scarce canned fish items and 5-10% for others next year. Despite some manufacturers raising wholesale prices by 25%, retail prices have only increased by 6-8%.

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

Original content

According to him, the main fish canning plants are located in the western part of the country. And they produce mostly products from Atlantic raw materials - herring, sardine, mackerel. "This year, prices for "Atlantic" have simply skyrocketed, since world fishing for these species is unsuccessful, the biomass is stagnating," he explained. Thus, over the year, prices for mackerel have grown by more than 1.7 times, for herring - by more than 60%. And raw materials are the main component of the cost of canned goods. Therefore, the expert predicts a price increase of more than 10-15% next year for the most scarce items. For canned fish, the catch of which was more successful, prices will increase within 5-10%. But prices are affected not only by the cost of raw materials. The fact is that Russia imports many components for the production of canned goods, and they have also become significantly more expensive due to the weakening of the ruble, Panin claims. In particular, we import ...

Source: RG