Wild salmon prices soar as Russian production remains low

The reason for the price increase is the decline in production. This year is a low year for wild salmon fishing, which is in sharp contrast to last year's bumper harvest. In addition, the actual production of wild salmon is far lower than the forecast, which has exacerbated market tensions. Andrew, head of business at Russian seafood exporter Vikta Gerasimov told UCN that this year's pink salmon production is only one-third of last year's. As soon as the fishing companies saw that there were no fish, they began to panic. They had to pay workers' wages, accommodation fees, travel expenses, etc. Some Russian workers came from the central region and the prepaid fees were very high. In the Chinese market, many buyers are not buying into the price increase. Some factories still hold last year's inventory at $3,800-$3,900/ton. These inventories were purchased at low prices last season. Other buyers choose to shop around and continue to look for cost-effective raw materials. Gerasimov ...