Tridge summary
The Russian government has decided to exempt export tariffs on certain aquatic products such as pollock fillets, frozen Pacific sardines, and processed shellfish to support the aquatic industry, effective November 10. This move is in response to opposition from industry groups against the new export tariff policy implemented in September, which is set to last until 2024. These groups worry that the tariffs will negatively impact the industry and lead to a decrease in exports and export value. The government's decision to exempt tariffs on some products produces in the Kaliningrad region starting February 2024, but the exemption period for other exempted products is not clearly defined, causing uncertainty. The Russian Fishing Vessel Owners Association and other groups argue that extending tariffs will result in a loss for the industry and have called for the tariffs to be canceled to promote industry growth.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Recently, the Russian government approved the exemption of export tariffs on pollock fillets, frozen Pacific sardines and some processed shellfish products to ease the pressure on the aquatic industry. According to Decree No. 1482 issued on November 2, the relevant exemption will officially take effect on November 10, aiming to respond to the call of multiple industry groups and promote the development of Russia's aquatic industry. In September this year, Russia implemented a new export tariff policy for some commodities, including aquatic products, for the first time. The tariff is linked to the exchange rate of the ruble against the US dollar and is scheduled to last until the end of 2024. Currently, the tariff standard in November is 7%, and it will be adjusted monthly according to the exchange rate. In addition, the Russian government approved the exemption of tariffs on some canned fish and a small amount of other aquatic products produced in the Kaliningrad region as early ...
Source: Foodmate
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.