Russian Agricultural Products Export Development Center: Russia’s fishmeal exports to China will increase by 25% in 2023

Fishmeal

Agricultural By-products

Russia

China

Market & Price Trends

Published Mar 13, 2024

Tridge summary

Russia has seen a significant increase in its fishmeal exports, particularly to China, which is now the second largest buyer of Russian fishmeal. In 2023, Russia's fishmeal exports increased by 10% in volume and 11% in value, reaching 143,000 tons and US$227 million respectively. This is a substantial increase from 2018, with export volume doubling and export value increasing by 1.6 times. China, which accounts for about one-third of global fishmeal consumption, receives up to 80% of Russia's fishmeal exports.

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

Fishmeal is produced from fish cutting waste and fish caught other than main fish, and is used to produce feed for farmed aquatic biological resources and used as an additive in livestock and poultry farming. It is reported that Russia’s fishmeal exports to China increased by 27%, reaching US$109 million. China has become the second largest buyer of Russian fishmeal, with South Korea in first place and Belarus in third. In summary, in 2023, Russia's fishmeal export volume increased by 10%, reaching 143,000 tons; the export value increased by 11%, reaching US$227 million. Compared with 2018, the export volume doubled and the export value increased by 1.6 times. Alexey Bugrak, chairman of the Russian Pollock Fishermen's Association, pointed out that China is the main consumer of fishmeal, accounting for about one-third of world consumption. He said that China is a world leader in the cultivation of aquatic biological resources. ...

Source: Foodmate