Of all the developing countries, the markets of the Asia-Pacific region are of the greatest interest to Russian fishermen. China is gradually lifting restrictions and is already waiting for the resumption of the supply of fish and seafood from Russia in the same volume. Along with the return to normal life, the China Fisheries & Seafood Expo in Qingdao resumed its work.
Asia-Pacific markets in the structure of Russian export
The ongoing changes in the structure of Russian fish and seafood export are due to several factors at once. The active stage of transformation began in 2020 and was associated with the COVID-19 pandemic, as a result of which many familiar destinations were under threat. The strictest epidemiological rules were introduced by China, so Russian fishery industry had to look for new directions, rebuilding the supply chains to the domestic market and to other countries. Although supply volumes have declined sharply, the Chinese market has remained a key destination for Russian fish and seafood export.
Another factor was the change in the principles of international trade in general. Restrictions on fish and seafood from Russia were gradually introduced by the United States, Canada and European countries. First, crabs, caviar, and later fillets of white fish were banned for import. At the same time, European consumers have already accustomed to fish from Russia, which are not inferior in quality to American ones, but are much more affordable. The struggle for European markets continues, but changes in the structure of global consumption reduce their value to fishery industry around the world. Their purchasing power remains high, but the steady development of trade is hampered by the growing attention to plant products and the practice of unilateral refusal to implement the agreements reached. These factors do not allow building long-term export plans to the countries of the European Union and the UK.
In general, Russia supplied fish and seafood to 60 countries during 2022. Export of fish products to Europe more than halved even before restrictions on pollock, cod and other white fish were introduced in 2023. Total exports to China, Japan and South Korea increased by 1.25% year-on-year to 1.667 million tons. With the return to the previous dynamics of trade with Asian countries, the markets of the Asia-Pacific region will strengthen their position as the main export destination for fish and seafood from Russia. Their share of global consumption of fish products is already about 60% and continues to grow. Even with reduced trade relations with Japan, fishery export to the Asia-Pacific region is expected to increase by 25% by 2030.
Centers of attraction of the Asia-Pacific fishery industry: Qingdao-Istanbul
Although China remains the main direction of Russian export, fish and seafood from Russia are also expected in other countries of the Asia-Pacific region. The important trading partners are also South Korea, India, and Vietnam. Other Asian countries with rapidly growing populations are also showing interest. They are all united by China Fisheries & Seafood Expo (CFSE) - the largest in Asia and one of the world's major international trade fairs for fish, seafood and technology. It is no coincidence that it takes place in Qingdao, since China produces about 2/3 of the world's fish products, and the Chinese market retains its position as the largest and most promising in the world. Every year over 30,000 fishing industry professionals from more than 80 countries attend this event.
Against this backdrop, Russian fishery industry is waiting for the return of the main international industry exhibition of China and the Asia-Pacific region. Expo Solutions Group is in constant contact with Chinese colleagues, whose messages are becoming more and more optimistic. The exhibition this year is again open to foreign exhibitors and is waiting for guests from all over the world on October 25-27 at the Hongdao International Convention and Exhibition Center (HICEC). The area of the Russian exposition this year for the first time in history will exceed 1000 square meters.
The needs and prospects of the fish market in the Asia-Pacific region are huge, so CFSE is mainly dedicated to the Asian fishery industry. Then Seafood Expo Eurasia exists to connect with Europe, the Middle East, Latin America. Istanbul, which has been connecting Europe and Asia since ancient times, today again serves as the bridge that helps the restoration and stable development of the world trade of fish products. In addition, Turkey has the best characteristics and infrastructure to organize logistics to all parts of the world and today confirms its position as the world's largest trading hub. The exposition area this year will be 20,000 square meters, and companies from 120 countries will take part. It will take place in Tüyap Fair and Congress Center on December 7-9.