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Russian cod export prices to China fall to 20-year low

Frozen Cod

Seafood

Russia

Trade Policies

Price

Published Dec 12, 2024

Tridge summary

Russian Senator Dmitry Zverev announced at a press conference that Russia's agricultural export tariffs, excluding canned and finished products, are expected to rebound from their current low prices next year. The tariffs have significantly influenced the export of cod products, with only the tariffs on fish fillets being removed in November, while tariffs on other products like frozen haddock, surimi, and fish roe still exist. From October 2024 to the end of the year, the floating export tariff rate for fish products will vary from 0% to 7%, depending on the US dollar/ruble exchange rate, with zero tariffs applied when the exchange rate is 80 or lower. The Russian government has also excluded sardines and cod fillets from the application of floating export tariffs.

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

Original content

Zverev pointed out at the press conference that this includes all types except canned and finished products. He said: "At present, we see that prices are returning to normal, and it is expected that next year, from the bottom of the price range between May and July this year, they will rebound." He said that export tariffs have a great impact on the export of cod products: from the beginning of November this year, only the export tariffs on fish fillets were abolished, while tariffs on other products-frozen haddock, surimi and fish roe are still in effect. From October 1, 2024 to the end of 2024, the floating export tariff ranges from 0% to 7% depending on the US dollar/ruble ...

Source: Foodmate