Russia: Fishermen express concern over possible extension of fish export duties

Published 2024년 12월 9일

Tridge summary

The fishing industry in Russia is projected to lose between $200-210 million this year due to export duties, according to VARPE estimates. Despite the government's exemption of duties on pollock fillets and sardines in November, many other products continue to require state support. Vladimir Kashin, Chairman of the State Duma Committee on Agrarian Issues, has stressed that the funds collected from duties should be reinvested in the industry. The Finance Ministry does not intend to extend the duties, which were introduced in September 2023 and are set to expire at the end of 2024, varying from 4% to 7% based on the ruble exchange rate.

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

Original content

Despite efforts to remove duties on two commodity items — pollock fillets and sardines, many other products still require state support. According to VARPE estimates, the fishing industry will lose about $200-210 million this year due to export duties. Without them, according to Zverev, sales volumes on world markets could be significantly higher. In November, the government excluded pollock fillets (EAEU TN VED code 0304 75 000 0) and sardines (TN VED code 0303 53 300 0) from duties. Chairman of the State Duma Committee on Agrarian Issues Vladimir Kashin emphasized that the funds collected from duties should be returned to the industry. Recall that exchange rate export duties were introduced on ...

Source: Fishretail