Salmon consumption in Russia may decrease

Published 2023년 1월 12일

Tridge summary

A study by the National Rating Agency (NRA) predicts a 5-7% annual decrease in fish consumption per person in Russia due to economic challenges, with the demand for salmon expected to decline due to rising prices. The average price of salmon increased by 25% in 2022, largely due to a decrease in catch and high import dependence. The price of frozen white fish is also increasing in line with inflation. The decline in salmon prices is attributed to reduced supplies from Chile and the Faroe Islands, as well as logistical difficulties. However, Voskhod, a fishing holding, is optimistic about the 2023 production outlook, which is expected to saturate the domestic market with affordable products. Igor Karavaev, Chairman of the Presidium of the Association of Retail Companies (AKORT), notes a 15-18% decrease in fish product demand in 2022, with salmon demand falling by over 30% in the fourth quarter. Alexander Fomin anticipates a decline in fish demand due to rising global prices and expects the share of fish exports to grow in the future.

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

Original content

In the coming years, against the backdrop of economic difficulties, fish consumption in Russia may decrease by 5-7% per person per year, and the share of salmon in the demand structure is likely to decrease. This is stated in the study of the National Rating Agency (NRA). In 2021, according to Rosstat, fish consumption decreased by 2%, to 21.7 kg per person per year. The decrease in demand for red fish in the NRA is associated with rising prices. According to analysts, the average price of salmon in 2022 increased by 25% year-on-year, exceeding 1,000 rubles for the first time in history. per 1 kg in April, while prices for frozen white fish are growing in line with inflation. According to the NRA, the increase in salmon prices is due to a decrease in the catch in 2022 to 280 thousand tons against 539 thousand tons a year earlier, as well as high dependence on imports against the backdrop of tougher Western sanctions against the Russian Federation and logistical difficulties. ...

Source: Fishretail