Russia’s Federal Customs Service reports that Russian seafood exports to China have rocketed in both volume and value during the first ten months of 2022.
The trade has increased to 430,000 tonnes – reported to be a 51% increase –and with a growth in value of 40%, while Russia’s seafood imports from China stood at 39,400 tonnes so far this year.
Stable fishing activity and the advances in processing have facilitated this increase in the seafood trade with China, as the two countries recently signed an agreement aiming at increasing their trade co-operation in goods and services.
According to Russia’s Federal Agency for Fisheries, it is seen as vital for the domestic fishing industry to be able to channel surplus production to overseas markets, taking advantage of opportunities for more sophisticated processing.
‘At the same time, ensuring domestic consumption of fish products in the country remains a priority,’ an Agency representative commented.
‘Large-scale reform of production capacities in the fishing industry is aimed at solving these important tasks for the Russian economy – constructing a modern fishing fleet and coastal fish processing with the help of an investment quota programme.’