Russia ousted 2/3 of the Canadian crab from the Japanese market

Published Feb 8, 2023

Tridge summary

Japanese importers are taking advantage of the situation by purchasing cheap Russian crab, which was previously a significant market for Canadian crab. Canadian producers, who have supplied Japan with 9,000 tons of crab annually for the past decade, have seen a decrease in sales, with volumes dropping to 3,000 tons in 2022. This shift could result in a potential loss of over $100 million for Canadian producers and could negatively impact the 2023 fishing campaign. The issue is being highlighted as a result of sanctions placed on Russia.

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

Original content

The Canadian Broadcasting Corporation (CBC) reports that Japanese importers are pursuing their own benefit by buying cheap Russian crab. Due to sanctions pressure, the sales market for Russian fishermen has shrunk, so they are reducing the cost of seafood in the hope of selling more. Previously, shipments from Canada amounted to 50% of all opilio snow crab imported into Japan, MP Clifford Small said. He stressed that about 30% of the crab caught last year is now stored in warehouses. It must be sold before the start of the new season. The chairman of the Association of Seafood Producers of Canada, Paul Grant, cited the following figures: Canada has supplied Japan with 9,000 tons of crab annually over the past 10 years, and in 2022, the volumes have decreased to 3,000 tons. Canadian producers could lose more than $100 million, which will negatively affect the 2023 fishing campaign. “I ...

Source: Fishretail