In a significant development, Russia has reported a remarkable surge in seafood exports to China, doubling the figures recorded during the same period last year. According to the Russian federal fishery agency Rosrybolovstvo, from January to October, the volume of seafood exports soared to an impressive 944,000 metric tons.
This surge in exports also translated into substantial financial gains, with the value of these shipments experiencing a notable 41 percent increase, reaching a total of $1.79 billion (€1.67 billion).
Frozen pollock emerged as a key contributor to this surge, constituting a substantial portion of Russia’s seafood deliveries to China. Notably, frozen pollock exports witnessed a 5 percent growth, accounting for a significant 504,000 metric tons or 53 percent of the total seafood exports to China.
Despite the substantial growth, it is essential to highlight that this expansion in seafood exports occurred alongside a considerable decline in export prices for Russian frozen pollock to China. The intricate dynamics of this market shift underscore the complexity of global seafood trade and the varying factors that influence pricing and consumption patterns.
As Russia continues to strengthen its position in the global seafood market, particularly with China as a prominent trade partner, industry analysts will be closely monitoring these trends for potential implications on market dynamics and pricing structures. The surge in exports not only showcases Russia’s seafood industry’s resilience but also signals evolving preferences and demands in the Chinese market.