Russian Federation: Frozen Fish Market 2024

Frozen Fish Market Size in the Russian Federation

The Russian frozen fish market dropped to $X in 2022, waning by X% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Frozen Fish Production in the Russian Federation

In value terms, frozen fish production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Frozen fish production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from the Russian Federation

Frozen fish exports from Russia stood at X tons in 2022, increasing by X% compared with the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, frozen fish exports fell rapidly to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped sharply in the following year.

Exports by Country

South Korea (X tons) was the main destination for frozen fish exports from Russia, accounting for a X% share of total exports. Moreover, frozen fish exports to South Korea exceeded the volume sent to the second major destination, China (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the Netherlands (X% per year).

In value terms, South Korea ($X), the Netherlands ($X) and China ($X) appeared to be the largest markets for frozen fish exported from Russia worldwide, together accounting for X% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen fish export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price showed a perceptible slump. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

Frozen Fish Imports

Imports into the Russian Federation

In 2022, the amount of frozen fish imported into Russia declined to X tons, falling by X% against the previous year. In general, imports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, frozen fish imports expanded to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Faroe Islands (X tons) constituted the largest frozen fish supplier to Russia, accounting for a X% share of total imports. Moreover, frozen fish imports from Faroe Islands exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. The third position in this ranking was held by Argentina (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Faroe Islands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and Argentina (X% per year).

In value terms, the largest frozen fish suppliers to Russia were Chile ($X), Faroe Islands ($X) and Turkey ($X), with a combined X% share of total imports. China, Argentina, Vietnam, South Korea, Belarus, Thailand, Ecuador, Greenland, Morocco and Kazakhstan lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :