Russian fish exports increased in volume but fell in value
Russia
Published Mar 23, 2021
Tridge summary
The volume of exports of fish products from Russia increased in physical terms, but fell in monetary terms. The reason is the coronavirus pandemic. In 2020, our fishermen extracted 4.97 million tons of aquatic biological resources, and exported 1.858 million tons, which is 7.1% more compared to 2019. But "in-the-money" exports lost 0.6% and brought in $ 4.6 billion. The global decline in demand for many types of fish products is to blame due to the closure of many food service outlets and the decline in purchasing power.
Original content
They have led to a decline in world prices for fish and seafood. According to the president of the Association of Pollock Catchers (ADM) Aleksey Buglak, the largest volume of exports last year fell on frozen pollock (42.7%). Despite an increase in the volume of supplies by 1% to 793 thousand tons, its profitability decreased by 9.6% to $ 890 million. The situation with pollock fillets is better: the volume of supplies increased by 12% to 50.8 thousand tons, and its value increased by 15% to 156 million dollars. As the UN Food and Agriculture Organization predicts, the recession in this sector of the economy will be long and will continue even after the quarantine restrictions are lifted. “According to our estimates, Russian fish exports by the end of 2021 will amount to $ 4 billion. The complete closure of the ports of the PRC and the inability to ship fish to the ports of other countries of the Asia-Pacific region may lead to a decrease in the volume of exports by more than $ 500 ...
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