Supplies of pollock fillets to the Russian domestic market exceeded exports for the first time

Published 2024년 9월 23일

Tridge summary

The exports of pollock products experienced a decline in the first half of 2024, with a decrease of 3% in volume and 24% in value compared to the previous year, according to Alexey Buglak, President of the Pollock Producers Association. This decline is primarily due to a rise in domestic demand, although it is coupled with lower prices to stay competitive, which impacts profitability. The future of these exports remains uncertain, with potential negative dynamics in both volume and value, influenced by factors such as the introduction of a 13.7% duty on Russian products in the EU, sanctions risks, and a decrease in demand for fillets in Europe. However, the association sees potential in marketing pollock caviar in China, as a promotion project for this product on the Chinese market has been restarted.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the first half of 2024, exports of the main types of pollock products decreased by 3% in physical terms, to 493 thousand tons, and by 24% in value terms, to $692 million, compared to the same period last year, reports Alexey Buglak, President of the Pollock Producers Association. In a commentary for the Federal State Budgetary Institution Agroexport, the expert explained that the reorientation of supplies is primarily due to the growth of demand in the domestic market. However, as the expert noted, the increase in supplies is accompanied by a decrease in prices to gain a competitive advantage, which affects profitability. The outlook for the current year is ambiguous, the expert believes. On the one hand, as the expert predicts, this year the dynamics will be negative both in volume and in monetary terms. Thus, the prices and volume of supplies may be affected by the introduction of a 13.7% duty on Russian products and products from third countries produced from Russian raw ...
Source: Fishretail

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