Russia: Supplies of domestic pollock to the Chinese market will grow

Published 2024년 6월 11일

Tridge summary

In 2023, China's consumption of seafood positioned it as the largest global consumer, with Russia being its second biggest fish supplier, contributing $2.9 billion worth of exports. The exports consisted of $1.6 billion of frozen fish and $1.2 billion of crustaceans. The main exports included pollock, cod, Pacific salmon, and frozen sardine. The growing demand for white fish in China's domestic market creates opportunities for Russian exporters. Despite the challenges in fish consumption in China, there is potential for growth, especially in the segment of inexpensive and high-quality wild marine fish. The decrease in the price of Russian frozen pollock and the increase in the price and decrease in the supply of Russian cod have made pollock more appealing to the Chinese market.

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

Original content

China is one of the largest consumers of seafood in the world and one of the most significant destinations for Russian fish exports. Russia, in turn, is the second largest supplier of fish to China (after Ecuador). In value terms, the export of Russian fish to China at the end of 2023 reached $2.9 billion, according to a statement from the Federal State Budgetary Institution Agroexport, which was reviewed by sfera.fm. Of this, about $1.6 billion came from frozen fish and $1.2 billion from crustaceans. According to the Pollock Fisheries Association, there are four main export items in the frozen fish category: pollock ($642 million), cod ($345 million), Pacific salmon ($160 million) and frozen sardine ($153 million). The growing demand for white fish in the Chinese domestic market opens up good opportunities for Russian exporters, experts say. Despite the peculiarities of fish consumption in the country, there is huge potential, especially in the segment of inexpensive and ...

Source: Fishretail