Russian Crab Group's crab exports to China have increased significantly

Russian Crab Group said it caught 9,500 tonnes of Far Eastern crab in the first half of 2024. This achievement is due to the new quotas the group won at a series of investment auctions last year. At the October 2023 auction, the group's subsidiaries bought seven batches with a total value of more than 57 billion rubles (593.1 million euros/648.6 million US dollars), winning the right to catch red king crab, snow crab, blue king crab and hairy crab. Currently, Russian Crab Group's total quota in the Far East exceeds 18,000 tons. "With the new quota, our production plan has increased by 50% compared to previous years. The increase is significant and the company is operating at a good rhythm. In six months, we have used half of the annual quota." Russian Crab Group sold in the first half of 2024 7,300 tons of live crab and cooked frozen products were delivered. The company said that the share of live crab in exports is growing, with China and South Korea being the largest consumers. ...