Pollock crisis threatens to drown fishing in Russia

Published Feb 24, 2021

Tridge summary

The closure of Chinese ports to Russian pollock catch has made pollock fishing unprofitable for farmers, leading to clogged holds and uncertainty about sales markets. Despite efforts by Russian authorities to open Chinese ports, the Chinese leadership is not eager to do so due to COVID-19 concerns. As a result, Russian fishermen face lost income and a potential collapse. Some are selling at low prices or trying to offload to Japan and South Korea, but the consumption of pollock in these countries is not as high as in China. The situation reminds some of a 2009 record salmon fishing line that resulted in a significant drop in catch. Domestic fish processors are waiting for even lower prices, and some transactions at super-low prices have already occurred.

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

Original content

Pollock fishing, before it can begin, can already become unprofitable for fish farmers: clogged holds and the absence of a traditional sales market call into question the prospects for making a profit. Despite all the efforts made by the Russian authorities, the PRC leadership is in no hurry to open their ports for Russian catch. The way out for fishermen in this situation may be deals at low prices - otherwise, all the catch will have to be scrapped. They said that this moment would come at the end of last year, when China closed the last port for Russian fishermen. The Chinese authorities, accustomed to solving all the problems with COVID-19 by strict quarantine, suspected our fishermen of the appearance of the disease on their territory. All attempts of the Russian Foreign Ministry to resolve this issue at the highest level have led nowhere. Neither the loss of income nor the blackmail with the imposition of an embargo on Chinese mandarins seem to scare our neighbors as much as ...

Source: Fishnet.ru