Russia reduced cost of fish exports 5.6% in 2023; price situation will improve in 2024 - Head of Rosrybolovstvo

MOSCOW. April 3 (Interfax) - Russia increased exports of fish products 9% in 2023 to 2.5 million tonnes. However, in value terms, there was a 5.6% decrease to $5.8 billion, the Head of Rosrybolovstvo, Ilya Shestakov, said at the agency's annual meeting on Wednesday in Moscow.

"It is clear that the situation was caused by the unfriendly actions of a number of countries. This year we are seeing the price situation start to improve. I hope that in 2024 we will be able to show positive dynamics not only in terms of growth in absolute terms, but also in value terms," he said.

Key importers of Russian fish products in 2023 were China, South Korea, the Netherlands, Japan, Nigeria and Germany. The geography of fish product exports has expanded, Shestakov said.

Imports of fish products in 2023 increased 18% versus 2022 to 656,000 tonnes. Its value exceeded the 2022 figure by 6%. The main suppliers were Belarus, the Faroe Islands, Chile, China, Vietnam, Ecuador, India and Peru.

"It should be noted that the basis of imports are those types of fish and fish products that are not caught in our waters or are not produced in sufficient quantities by our enterprises," Shestakov said.