Frozen fish remains the main product in Russia’s fish exports, accounting for a half of the total export value of fish products and nearly 80 per cent of export tonnage. These figures are reported by the Fishery Shipowners Association (FSA) on December 17.
In the first three quarters of this year, Russia exported over 1 million tonnes of frozen fish. According to statistics by FSA, Russian supplies accounted for 17.4 per cent of the global frozen fish export volume, surpassing the 2023 share of 16.2 per cent. The top five exporters for the first nine months of 2024 also included China (11.7 per cent), the Netherlands (7.2), Norway (7), and the United States (6.6). Notably, the U.S. overtook Chile, which ranked fifth in 2023. Last year’s rankings were as follows: Russia (16.2 per cent), China (7.2), Norway (5.2), the Netherlands (4.9), and Chile (4.7).
However, Russia's share in the value of frozen fish exports for the first three quarters is lower than its tonnage share at 13%. This discrepancy is attributed to lower average prices compared to major competitors. Over the nine-month period of 2024, the average price of Russian frozen fish was $1,622 per ton, whereas U.S. frozen fish was priced at $3,247 per tonne — double the Russian rate. Norwegian frozen fish averaged $2,752 per tonne (+69.7 per cent compared to Russian prices), and Chinese frozen fish averaged $2,211 per tonne. Globally, the average price of a ton of frozen fish over the nine months was $2,235 (+37.8 per cent compared to Russian prices).
About half of Russia’s frozen fish export tonnage consists of pollock, with the rest distributed among sardines (including iwashi), herring, cod, salmon, and other fish species. A significant portion of fish caught by Russian fisheries in the Northern Basin is exported, exceeding the recommendations of the Food Security Doctrine, which advises limiting exports to 45 per cent. This has led to an artificial shortage and inflated fish prices in the domestic market, according to some Russian scholars.
Read an article What's Wrong with Russian Arctic Fishery Prices Since 2013 (in Russian)
Factors Affecting Export Prices and Volumes
Russia's lower average price for frozen fish is not only due to the dominance of less expensive species but also to geopolitical factors, including sanctions and tariff restrictions. These measures cause similar fish from competitors to sell at higher prices. The situation is further exacerbated by the export duty introduced in October 2023.
These challenges have also negatively impacted the volume of Russian fish exports. According to industry associations, Russian fish exports in physical terms declined by 17 per cent over the first nine months.
Global fish and seafood exports for the first nine months of 2024 reached nearly $86 billion, with the annual figure likely to approach the 2023 level of $138.7 billion — a 6.4 per cent decrease from 2022. Russia's share in the value of global fish exports for the first nine months of 2024 was 4.6 per cent (compared to 4.2 per cent in 2023).
Source: Sudostroenie Info
Also read the publication:
Unmanned Helicopters Planned to Assist Icebreakers in the Arctic
