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China, South Korea largest buys of Russian fish
Tuesday,21 February,2012 08:52:39
In 2011, more than 80 percent 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 USD 1 billion. Of the 565,000 tons of aquatic bio-resources a share of Alaska pollock was 335,000 metric tons (59 percent) and milt and roes at around 46,000 metric tons (8.2 percent). Smaller part of the total export were crabs at more than 18,000 metric tons (about 3.3 percent)
, Alaska pollock fillets at more than 20,000 metric tons (about 3.6 percent)
and Pacific herring at 23,000 metric tons (4.1 percent).
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 665,000 metric tons of various fish products (valued over USD 790 million).
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 the United States.
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.