Russian surimi prices fall 20%, hitting Asian suppliers hard

Sources said that in the A quarter of 2024, the price of Russian A-grade surimi was $2.50/kg, and the price of KA-grade was $2.10/kg, which were $0.40/kg and $0.50/kg lower than the B quarter of last year, respectively. The negotiated transaction price of A-grade surimi between a Russian supplier and a Thai buyer was $2.25/kg. Industry forecasts that the surimi production of the two factories of Russian Fisheries Company (RFC) and Gidrostroy will reach 40,000 tons, an increase of 40% over last year. Almost all Russian pollock surimi will be sold to Asia, China is the largest buyer. Customs data show that China imported 4,409 tons of Russian surimi in March, a year-on-year increase of 225%, and the average import price was $1.81/kg, a year-on-year decrease of 53% and a month-on-month decrease of 14%. In December last year, the price of pollock surimi imported by China from the United States was $2.34/kg, which rose to $2.90/kg in January and rose to $3.30/kg in February. There was ...