Russia: Chinese lockdown hit not only fishermen but also consumers

Published 2021년 1월 26일

Tridge summary

The closure of Chinese ports for fishing vessels has led to a decrease in wholesale prices for pollock in the Far East, Russia, dropping by 9.7% to 65 rubles per kilogram from January 18 to 24. This situation is expected to significantly reduce revenue for fishermen and result in a shortfall in taxes to the Primorye budget. The loss is due to fixed fishing costs and the need to sell at lower prices domestically, as export to China, which accounts for 70% of Far Eastern capacity's production, has been halted since December due to COVID-19. Additionally, herring prices have risen due to increased domestic demand. The Federal Agency for Fishery is seeking additional refrigeration and processing facilities in Russia to address the current challenge.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The situation with the closure of Chinese ports for receiving fishing vessels has already hit the seaside business - according to the Federal Agency for Fishery, wholesale prices for pollock in the Far East from January 18 to 24 decreased by 9.7%, to 65 rubles per kilogram. The Sea of Okhotsk pollock fishing, which started at the beginning of the year, on such conditions, and no one canceled the costs of fishing, can lead to a sharp loss of revenue for fishermen, which means a shortfall in taxes to the budget of Primorye. The suspension of the export of fish products to the PRC, which has come to be called the "Chinese lockdown", has led not only to a drop in prices for pollock, but also to an increase in prices for herring. As previously reported, in the Far East region, the continuing uncertainty with the sale of products to China against the background of active fishing reduces prices for pollock (65 rubles per kilogram, -9.7% per week), at the same time, the increased demand ...
Source: Fishnet.ru

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