Prices for crab exports from the Russian Federation are declining more than for the domestic market

Published 2024년 4월 18일

Tridge summary

In 2023, the global market witnessed a significant decrease in the prices of Russian frozen crab, including varieties such as Kamchatka crab limbs and meat, as well as snow crab. This decline was observed both domestically and in key international markets like Japan, the Republic of Korea, and China, with the most notable price drops in Korea and Japan. This trend has led to an uptick in Russian crab exports as producers look for new markets in response to import bans from the United States and Europe. Despite the increase in export volumes, the average export price has fallen, reflecting a global decrease in crab prices.

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

Original content

According to a comparison of offers placed on wholesale platforms in Moscow and the Moscow region, prices for Russian frozen crab for the domestic market have decreased at the end of 2023. The average wholesale cost of frozen Kamchatka crab limbs decreased from 2,670 rubles/kg in 2022 to 2,550 rubles/kg in 2023, a decrease over the year of 4.7%. The average price of Kamchatka crab meat decreased from 2850 rubles/kg in 2022 to 2600 rubles/kg in 2023 (-8.8%). The average annual price for the limbs of snow crab (opilio) fell the most - from 1,240 rubles/kg to 945 rubles/kg, a decrease of 23.8%. A comparison with exports shows that export prices for frozen Russian crab to Japan, the Republic of Korea and China have decreased more than for the domestic market. Thus, according to the customs data of the Republic of Korea, the average price of Korean imports of frozen Kamchatka crab from Russia decreased by 39.4% - from 25.4 $/kg in 2022 to 15.4 $/kg in 2023. Average price of crab ...

Source: Fishretail