News

Russia becomes world's largest herring supplier

Published May 19, 2024

Tridge summary

In 2023, the supply of Russian Pacific herring surged by 57% to 187,500 tons, largely attributed to a 104% increase in exports to China, reaching 123,200 tons, making Russia the largest global supplier. This surge has helped Russian fishermen outperform their Norwegian counterparts, who saw a 22% drop in herring exports. Besides China, Russia has also noticed significant growth in herring supplies to Nigeria and other African markets. With the global herring market estimated at $700 million, Russia's share is 27%, primarily from the Pacific. Catching 406,200 tons of Pacific herring, 74,100 tons of Atlantic herring, and 24,500 tons of Baltic herring in 2023, Russia has managed to satisfy both its domestic market and international demand, as herring remains a popular choice among consumers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

"The supply of Russian Pacific herring increased by 57% to 187,500 tons, mainly due to a 104% increase in exports to China, which reached 123,200 tons," VARPE wrote. "In contrast, Norwegian herring exports fell by 22% to 123,200 tons during the same period. Thus, Russian fishermen surpassed one of their main competitors on the world market in terms of supply last year," the association added, noting that Russia has become the largest supplier of herring on the world market. In addition to China, supplies to other countries are also growing: for example, supplies to Nigeria increased by 56%; the prospects for Russian herring in other African markets are good. The global herring market is estimated at $700 million and consists of several parts: the Pacific (Russia accounts for 80% of the world catch), the Atlantic and the Baltic. In monetary terms, Russia's share is estimated at 27%. "In 2023, Russian fishermen caught 406,200 tons of Pacific ...
Source: Foodmate
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