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17 August 2012

Russian Fish Market Capacity Estimated by Importers

USDA prepared an outlook for Russian fish market after joining the WTO.

Today I’d like to share with you a piece of information concerning prospects of a fish market in Russia from a point of view of American experts. According to them, in the coming years Russia will remain a large and prospective consumer of imported fish and seafood. In 2011 the total cost of fish and various fish products imports to Russia was $2.6 billion, 19 per cent up compared to 2010.
Market experts say that the annual growth in consumption of frozen and fresh fish, mollusks, crustaceans in Russian will be from 20 to 30 percent while consumption of valuable seafood like a black tiger prawn, king prawn, lobster, scallop, octopus, crab, etc. will be rising by 40-50 per cent.
Import duty reduction for almost all product categories after Russia's entry into the WTO is also taken into account. In particular, foreign analysts give the following figures for import duty:
-              3-8 per cent for frozen, fresh and chilled fish (including fillets)
-              4 per cent (by 2016) for salmon and trout fillets
-              5 per cent (by 2015) for cod fillet
-              7 per cent (by 2014) for hake and pollock fillets.
However, Andrey Krainiy, head of the Federal Fishery Agency, said in his interview that after Russia’s joining the WTO the process of substitution of imported fish by domestic product will continue, and reduced duties will not considerably affect fish market. Besides, given for more or less active development of Russian fish industry in recent years, volumes of fish import are going to decrease gradually.

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