(September 16, 2022)
In Russia, the salmon catch unexpectedly decreased.
New challenges and opportunities?
Every year in the Far East of Russia there is fishing for salmon – pink salmon, chum salmon, sockeye salmon, chinook salmon. It is these types of salmon that are the main representatives of the “red fish” in Russia. Since they are 5-6 times cheaper than traditional Norwegian salmon or trout.
Salmon are caught in Russia once a year from July to September and there are enough stocks both for export to Asian countries and for domestic consumption of Russian residents throughout the year.
But this year, already at the end of August, it became clear that the salmon catch in the 2022 season would be much less than in 2021. Unfortunately, this has already caused an almost two-fold increase in salmon prices in food stores in Russia.
Salmon are usually such a price driver for fish in Russia, so for now it seems that the prices of the rest of the locally caught fish will also increase in the Russian market this year.
As an expert on the Russian food market, I can advise foreign companies involved in the fish business with Russia to think ahead about their strategy for the next 9-10 months. And for new foreign fish companies who plan to supply their fish to Russia, I can say that you have a good chance, while maintaining current prices for your products, to take more space in the Russian fish market in 2022-23.
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Business Adviser on Russian Food Market