Russian Federation: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in the Russian Federation

In 2021, the Russian market for frozen scallops, including queen scallop increased by 14% to $X, rising for the third year in a row after six years of decline. Overall, consumption, however, saw a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Frozen Scallops, Including Queen Scallop in the Russian Federation

In value terms, frozen scallops, including queen scallop production rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep contraction. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from the Russian Federation

In 2021, shipments abroad of frozen scallops, including queen scallop decreased by -1.2% to X tons, falling for the third year in a row after seven years of growth. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 505% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports expanded markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 599%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for frozen scallops, including queen scallop exports from Russia, with a 94% share of total exports. It was followed by South Korea (X tons), with a 2.3% share of total exports. The third position in this ranking was taken by the Netherlands (X tons), with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+97.3% per year) and the Netherlands (-14.8% per year).

In value terms, China ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Russia, comprising 66% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports. It was followed by France, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +44.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+96.9% per year) and France (-28.4% per year).

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the export price, however, faced a deep contraction. The growth pace was the most rapid in 2019 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+13.8%), while the prices for the other major destinations experienced a decline.

Imports of Frozen Scallops, Including Queen Scallop

Imports into the Russian Federation

In 2021, the amount of frozen scallops, including queen scallop imported into Russia skyrocketed to X tons, rising by 43% against 2020. Overall, imports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 201% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 181% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of frozen scallops, including queen scallop to Russia, with a 96% share of total imports. Moreover, frozen scallops, including queen scallop imports from China exceeded the figures recorded by the second-largest supplier, Peru (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.1%.

In value terms, China ($X) constituted the largest supplier of frozen scallops, including queen scallop to Russia, comprising 96% of total imports. The second position in the ranking was taken by Peru ($X), with a 3.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at -3.7%.

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of 12%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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