Russian aquaculture could receive 100 bln rubles investment in 3-5 yrs - bank

ST. PETERSBURG. Sept 18 (Interfax) - The Russian aquaculture sector could receive 70 billion-100 billion rubles of investment over a period of three to five years, Russian Agricultural Bank forecasts.

"The bank sees a growth area and investment potential in aquaculture. Profit margins here are stable and very high and return is 45%- 50%. Also, investments are needed in science, fish feed, genetics, vaccine production and software for aquaculture to develop. In general, Rusag Bank sees an investment potential of 70 billion-100 billion rubles in the development of aquaculture over the next three to five years," the bank's deputy CEO, Irina Zhachkina, said at the Seventh International Fishery Forum in St. Petersburg.

Russian aquaculture output rose 4.8% to 402,000 tonnes in 2023 from 383,500 tonnes in 2022. The fisheries development strategy envisages aquaculture production will rise to 600,000 tonnes per year by 2030.