Global Fishery Forum & Seafood Expo Russia
September, 17-19, 2024, Saint Petersburg
Promising Export Directions for Russian Pollock
20/01/2023

The export of Russian pollock is under threat. The events of recent years have led to an economically unmotivated decline in demand for Russian fish products in European markets. New restrictions have affected white fish fillets of primary freezing. Without changes in the structure of exports, sanctions can not only reduce the profitability of Russian companies, but also significantly slow down their development in the long term.

The fight for the European whitefish market

New restrictions negatively affect not only Russian fishing and fish processing companies that have invested in the development of fishing, processing and logistics infrastructure. Consumers who are interested in high-quality and inexpensive pollock fillets from Russia suffer no less. The countries of the European Union, unlike the US and Canada, which independently supply the domestic market, until recently did not impose restrictions on Russian exports of white fish and did not increase import duties. However, the latest export requests of Russian companies have been rejected or remain unconsidered.

At the same time, the difference in the cost of similar products from Russia and the United States has also increased - today it is about 800-900 dollars per ton of primary frozen pollock fillets. If the current trends continue, then we can expect further growth in prices for products supplied by the United States. The struggle for the European market prompted both sides to increase pollock production in the Bering Sea. If the increase in the Russian quota was about 9.5% (612 thousand tons), then the American one - by 17% (1.3 million tons). In addition, restrictions also threaten fish products caught by Russian vessels and processed in China. It also have negative effect for both pollock fishers and consumers.

Structure of worldwide consumption

The main condition for the risk of a lack of demand for Russian fish products today is connected with the old paradigm of logistics and consumption. Under the previous conditions, indeed, the Russian fishermen could experience long-term difficulties. However, the world is changing, and the importance of affordable wild protein, of which pollock remains one of the main sources, will only increase in order to maintain food security. In the context of changes in established supply chains, consumption patterns and the transformation of the global economy, its value is no longer in doubt.

In connection with world consumption changes and the easing of China's epidemiological policy, exports to Asian countries have increased. Meanwhile, the share of worldwide fish consumption by the countries of the Asia-Pacific region is already about 60%. The total volume of exports to China, Japan and South Korea for the year increased by 1.25% to 1.667 million tons. China retains its key importance for Russian exports, so the fishery industry is cautiously optimistic about the gradually normalizing epidemiological situation, which gives reason to plan participation in the exhibition in Qingdao this autumn.

However, China and South Korea are not the only countries interested in Russian pollock.

Global changes in the economic and demographic structure are also increasing the need for affordable fish products in the countries of the Middle East and Africa. Thus, the bulk of new foreign visitors to the exhibition in St. Petersburg were guests from India, Iran and Turkey. They highly appreciated the prospects for cooperation with Russia and expressed their desire for its expansion.

Seafood Expo Eurasia: Trade Sustainability

Along with the transformations of the world economy, the schedule of the world's main exhibitions of the fishing industry and its infrastructure is also changing. The growing demands of the countries of the Asia-Pacific region, the Middle East and Africa and their future value are forcing exporters of fish products to change their established habits. To enter and gain a foothold in new markets, today there is a global exhibition Seafood Expo Eurasia. Istanbul, which has long connected Europe and Asia, today is once again becoming the world's largest trading hub. Popularity of this exhibition is due also to the fact that Turkey has the most convenient logistical characteristics for developing countries.

This year, Seafood Expo Eurasia will take place on December 7-9 at the Tüyap Exhibition Fair and Congress Center in Istanbul. 

China Fisheries & Seafood Expo will be held again in Qingdao on October 25-27.