Russia: Import Substitution for Seafood Growing in Russian Far East

Consumption of domestic fish products in the Primorye region and throughout Russia is growing. During the first five months of 2015, regional production of fish products sold on the domestic market totaled 28.4 billion rubles - 42 percent higher than the volume sold during same period in 2014. The fishing industry in Primorye includes 196 companies that own a total of 468 ships. During the first 5 months of 2015, fish and seafood exported from the Russian Far East 576,900 MT of fish valued at roughly $1 million. This is an 8 percent drop from the same period in 2014. On July 3, 2015, LLC Maersk signed an agreement with JSC "Vladivostok Sea Fishing Port" (JSC “VSFP”) to increase deliveries of fish products from the Far East to Russia’s western and central regions. Fish and seafood prices have risen significantly in Russia over the past year.

Russia: Import Substitution for Seafood Growing in Russian Far East