Russia to raise prices for canned fish

Published Apr 13, 2022

Tridge summary

The Russian canned fish industry is facing a potential shutdown due to a significant increase in the cost of production components and ingredients, leading to a 10-15% price hike on popular canned fish products. The rise in vegetable oil prices, tripling since February, and high lending rates for fish processors, compared to chicken meat processors, have resulted in cash flow issues and the need for advance payments for components. This situation is threatening the survival of specialized enterprises, with a need for affordable loans to sustain the industry.

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

Original content

Enterprises of the Russian Federation for the production of canned fish may suspend work due to increased prices for products. The head of the board of directors of the holding "For the Motherland" Sergei Lutarevich notes that prices for popular brands and categories will increase by 10-15% due to the rise in the cost of auxiliary production components and ingredients. Sardines in oil, sprats in tomato sauce, anchovies and tyulka are still the most popular canned food among buyers. Rising prices for this and other products will be felt by consumers. It is worth noting that since the beginning of February, the cost of vegetable oil has tripled, rising to 150 Russian rubles per liter. In addition, the production of fish products suffers from problems with obtaining cheap loans. Against the backdrop of anti-Russian sanctions, fish processing was not included in the number of socially important industries. The lending rate for enterprises producing these products is 9.5% higher than ...

Source: RUAgronews