Processed fish product exports grow by more than a quarter

Processed fish product exports grow by more than a quarter

In the first nine months of 2018 the total export of fish and seafood to the global market increased by 1 % to reach 1.65 million tons, as reports the Russian Agency for Fishery, referencing the Federal State Statistics Service. The export of highly-processed fish products (fillet and mince) increased by 27 %, reaching 103 thousand tons.

The export of crustaceans, shellfish and other seafood grew by 2.4 % (up to 85 thousand tons), while the export of frozen fish decreased by 0.4 % (down to 1.4 million tons). The total volume of fish products was 3.2 million tons, or 1 % less than last year, while the production of fish fillet grew by 3 %, up to 121 thousand tons.

The revised long-term development strategy of the fishery complex project through 2030 includes a shift from the export of raw materials and a new focus on products with high added value. The driving force behind the change is an increase in the level of processing by several times and introduction of zero-waste technologies in almost every sector of the industry. The President of Russia set the goal to double export revenues (up to $8 bln).

The country is also planning to boost the annual export of Russian oil and butter by a factor of 2.7 compared to last year’s figures, up to $8.6 bln by 2024. The Ministry of Agriculture finds it imperative to distribute the efforts required to implement this program among the Russian regions and key players in the industry. Russia also plans to maintain its leadership on the global wheat market.

Source: http://blog.b2b-export.com