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17 February 2012

China and South Korea are the largest buyers of Russian fish

Where does this trend go?

In 2011 over 80% of the total Russian seafood export volume went to markets of China, South Korea and Japan. The first two states are the leaders in value and volumes of products imported from Russia.
As reported by the Public Relations Centre  of Russian Fishery’s Department , last year the total value of fish and seafood from Russian fishing companies sent to South Korea exceeded $1 billion. Of the 565 th. tons of aquatic bio-resources a share of Alaska pollock was 335 thousand metric tons (59%), milt and roes – around 46 thousand metric tons (8.2%). Smaller part of the total export where:
Crabs – over 18 thousand metric tons (about 3.3%)
Alaska pollock fillets – over 20 thousand metric tons (about 3.6%)
Pacific herring – over 23 thousand metric tons (4.1%).

But it’s China that holds the first place in the list of countries to which Russian fish and seafood is exported – last year PRC imported 665 thousand metric tons of various fish products (valued over $790 million USD).

It is largely expected (and I support this opinion) that China will be the largest buyer of seafood from Russia over short to medium term, however currently it’s being mainly used for processing and reselling to Japan, Europe and USA.

With an upward trend of Chinese wages however over long term the processing in China may decrease unless it will be supported by the domestic consumption.

I would love to hear your opinion on this! Feel free to comment.

Posted on 11:51 AM | with 0 comments
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