Russian pollock raw materials have a rising price trend, and Russian companies are betting on the surimi market

Published 2024년 7월 23일

Tridge summary

The CEO of Russian Fisheries Company (RFC), Savely Karpukhin, has predicted a rise in H&G prices by the end of the year, due to a decrease in Russian single frozen fish fillet production. This is expected to stimulate demand for secondary freezing, therefore increasing the demand for H&G. However, the company is facing challenges in its fish fillet export business due to only one of its five new fishing vessels obtaining an EU export number. Additionally, RFC and Gidrostroy are focusing on the Asian market for surimi, with production forecasted to exceed 160,000 tons in 2028.

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

Original content

Savely Karpukhin, CEO of Russian Fisheries Company (RFC), told UCN: "The current H&G price is about $1,000/t, which means that the price of second-frozen fish fillets in China is $2,300-$2,400/t (excluding tax), plus the 13.7% import tariff in the European market, the overall price is about $2,700/t." "By the end of this year, H&G prices may rise to $1,100-$1,200/t, mainly because the low price of fish fillets will theoretically drive some demand." Karpukhin said. From June 1 this year, the United States completely banned the import of Russian seafood (including Russian raw materials processed in third countries), resulting in an overall decline in the demand for fish fillet processing in China and other Asian countries. This year, the EU will no longer open an independent tariff quota for Russian products. Currently, fish fillets made from Russian raw materials are subject to a 13.7% tariff. "We expect that the demand for H&G in the Chinese market will increase by the end of the ...

Source: Foodmate