Russia considers lifting export tariffs on some fish products
Frozen Cod
Published Mar 19, 2024
Tridge summary
In response to the EU and US ban on Russian fish species, the Russian government is planning to eliminate the 5.5% export tariffs on cod, bonito, and deep-sea crabs. This move aims to mitigate the negative impact on the profitability of Russian fishing companies. Alexei Buglak, the chairman of the Russian Cod Association, noted that the price of cod fillets has fallen by 52% in just over a year, resulting in up to 71% losses for producers when combined with import and export tariffs.
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Original content
Part of the plan involves removing export tariffs on cod, bonito and deep-sea crabs. The current tax rate is 5.5%. Industry insiders say that the current tariffs have a negative impact on the profitability of Russian fishing companies, especially due to the current ban on Russian fish species imposed by the EU and the United States. Alexei Buglak, chairman of the Russian Cod Association, said at a meeting of the Fisheries Committee of the Russian Federation of Industrialists and Entrepreneurs that the price of cod fillets has dropped by 52% in just over a year, and combined with import and export tariffs, producers have suffered losses. Reached ...
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