Russia has banned the import of finished products from fish and seafood

Published Jul 27, 2023

Tridge summary

The Russian government has implemented a ban on the import of finished fish and seafood products from unfriendly countries until the end of the year. The Ministry of Agriculture believes that this will create opportunities for domestic producers to fill market niches and expand production volumes. Despite the ban, Russian companies are not expected to be significantly affected as imports of canned fish make up a small share of the market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The government, as part of special economic measures in response to Western sanctions, has imposed a ban on the import into Russia of finished products from fish and seafood (codes 1604 and 1605 of the TN VED of the EAEU - prepared and canned fish, caviar and its substitutes, prepared or canned crustaceans and molluscs) from unfriendly countries, the Ministry of Economic Development said in a statement. The ban will remain in effect until the end of the year. According to the Ministry of Agriculture on its Telegram channel, the refusal to import will free up certain market niches, including in the premium segment, which will be filled by domestic producers. Their capacities make it possible to fully meet the needs of the domestic market for such products, the department emphasizes. Also, Russian companies will have the opportunity to increase production volumes, expand the range and increase the number of jobs. In addition, products will become more accessible to consumers due to ...
Source: AgroInvestor
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