Russia: Buyers prefer affordable fish and seafood to high-end products

Seafood

Russia

Published Aug 3, 2023

Tridge summary

In the first five months of 2023, Russia saw a 5.5% increase in the production of fish products, with frozen fish production increasing by 11.4%. However, other categories like frozen fillet, canned food, and salted fish saw a decline in production. Consumers are switching to more affordable types of fish, leading to an increase in sales of products like pollock and simulated caviar.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Growth and decline According to Rosstat, in the first five months of 2023, 1.8 million tons of fish products were produced in Russia, which is 5.5% more than in the same period last year. As noted in the Rybny Soyuz, during this time, the production of frozen fish increased by 11.4%, but all other positions from the main ones decreased in volume, especially frozen fillet (-23.4%), canned food (-12.7 %) and salted fish (-5.8%). Last year, on the contrary, the production of frozen fish decreased, while the production of chilled and frozen fillets, as well as canned food, increased. “The fall in fillet production is primarily due to a reduction in the output of pollock fillets and, in part, herring fillets,” the Rybny Soyuz explain. categories of salted fish, preserves and preserves". The decrease in purchasing power is reflected in the retail sale of fish and seafood by a change in the structure of demand. “Buyers are switching from more expensive types of fish, such as hake or pink ...

Source: Fishretail