Russian fish exports increased in volume but fell in value

Published 2021년 3월 22일

Tridge summary

In 2020, Russia saw a increase in the volume of fish product exports, but a decrease in monetary terms due to the pandemic. The global demand for many fish products fell due to the closure of food service outlets and decreased purchasing power, leading to a decline in world prices for fish and seafood. The largest volume of exports was frozen pollock, but its profitability decreased. However, the situation for pollock fillets is better with a increase in volume and value. The UN predicts a long recession in the fish industry. China, the main export market for Russian fish, closed its ports leading to a 40% increase in shipments to South Korea.

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

Original content

The volume of exports of fish products from Russia increased in physical terms, but fell in monetary terms. The reason is the coronavirus pandemic. In 2020, our fishermen extracted 4.97 million tons of aquatic biological resources, and exported 1.858 million tons, which is 7.1% more compared to 2019. But "in-the-money" exports lost 0.6% and brought in $ 4.6 billion. The global decline in demand for many types of fish products is to blame due to the closure of many food service outlets and the decline in purchasing power. They have led to a decline in world prices for fish and seafood. According to the president of the Association of Pollock Catchers (ADM) Aleksey Buglak, the largest volume of exports last year fell on frozen pollock (42.7%). Despite an increase in the volume of supplies by 1% to 793 thousand tons, its profitability decreased by 9.6% to $ 890 million. The situation with pollock fillets is better: the volume of supplies increased by 12% to 50.8 thousand tons, and ...

Source: Fishnet.ru