Sprats and other canned food may rise in price by 20 percent in Russia

Published Aug 13, 2023

Tridge summary

Rising prices for fish products in Russia will be partly due to import bans from countries like the United States and EU nations, but this may also create opportunities for Russian companies to fill the gaps in the market. Decreases in production of frozen fillets, canned food, and salted fish in Russia could also contribute to the price increase. However, investments in the fishing industry and the addition of new species like Black Sea shrimp and Japanese shrimp are expected to help stabilize prices in the long run.
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 impetus for rising prices will partly be a ban on the import of these goods into Russia from the unfriendly United States, Norway and EU countries. But there is also a reverse movement here: market niches for Russian companies will be freed up, which will activate their enterprises. The second impetus to rise in prices may come from a decrease in the production of frozen fillets, canned food and salted fish in Russia. But our manufacturers are quite capable of relieving this tension, too. The most popular in Russia were Latvian sprats. But Russian fishermen and fish processors can easily fill this niche. Moreover, significant funds are being invested in the fishing industry of the regions - the Murmansk region, for example. And this will calm prices, says Ekaterina Novikova. It is clear that it will take time for our manufacturers to occupy the niches that have been vacated on the market. All the experts interviewed by RG are unanimous in approving the ban on the import of ...
Source: RG
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