Russian seafood exports rose in value by 26 percent in 2021 to USD 5.85 billion (EUR 5.02 billion), but Russia will face a challenge approaching that total in 2022, as many of its fastest-growing markets are now imposing sanctions in response to its invasion of Ukraine.
The higher value was primarily due to a shift to producing and selling more deeply-processed products like fillet and mince, as Russian seafood exported volumes fell by 11.55 percent in 2021 year-over-year, to 1.645 million metric tons (MT).
Russia’s top export by value was crab, pulling in USD 2.5 billion (EUR 2.3 billion) in value. Its crab catch total by volume was flat at 75,000 MT.
Russia’s 2021 pollock catch totaled 1.67 million metric tons (MT), down 6 percent year-over-year. Thus far, Russia’s pollock season A during the period spanning January through 16 February 2022 brought in a catch of 341,000 MT, which is 83,400 MT less than the corresponding period of 2021. Russia caught 858,000 MT of pollock through its entire A season in 2021, down 14 percent from 2020. It has been responding to a pollock glut caused by China blocking Russian fish exports over COVID-19 concerns, an action that placed a severe strain on Russia’s pollock supply chain. Russia has since regained access to the Chinese market.
Russia’s production of frozen fish experienced a 16 percent decline in 2021 to 1.36 million MT, though it earned USD 2.4 billion (EUR 2.16 billion), up 2 percent from 2020.
Frozen pollock, which held a 43 percent share of the entire Russian seafood exports segment in 2020, experienced the biggest drop, falling 26 percent year-over-year to 585,000 MT. Russia’s frozen pollock exports dropped 33 percent by value in 2021 to USD 599 million (EUR 539 million).
Russia’s herring exports decreased by 12 percent by volume to 190,000 MT and 15 percent in value terms to USD 136 million (EUR 122.4 million). Exports of Russian salmon fell 24 percent to 87,600 MT, but rose by 10 percent in value to USD 373.5 million (EUR 336.5 million), thanks mainly to higher prices received for frozen sockeye salmon. The average price for frozen Russian sockeye increased 240 percent for the 2020 average to high demand from Japan, according to Russia’s Federal Agency for Fisheries.
Russia’s exports of cod increased 12 percent in volume to 162,000 MT and surged 17 percent in value to USD 415 million (EUR 373.5 million).
Finished seafood products and fishmeal exports from Russia fell by 9 percent by volume to 31,600 MT, but rose 21 percent in value to USD 104 million (EUR 93.6 million).
Photo courtesy of Konstantin Baidin/Shutterstock
