Russian Federation: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in the Russian Federation

The Russian inedible fish products market declined to $X in 2022, waning by -5.6% against the previous year. In general, consumption recorded a mild setback. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in the Russian Federation

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. In general, production showed a slight downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 54%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Inedible Fish Products Exports

Exports from the Russian Federation

In 2022, inedible fish products exports from Russia declined dramatically to X tons, with a decrease of -20.1% against 2021. Overall, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 118% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, inedible fish products exports fell significantly to $X in 2022. In general, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 73% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of inedible fish products exports from Russia, together comprising 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +415.9%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Ecuador ($X) and the United States ($X) constituted the largest markets for inedible fish products exported from Russia worldwide, with a combined 81% share of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +265.7%, recorded the highest rates of growth with regard to 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

The average inedible fish products export price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the period under review, the export price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2015 an increase of 42% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to the Czech Republic ($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 South Korea (+0.9%), while the prices for the other major destinations experienced a decline.

Inedible Fish Products Imports

Imports into the Russian Federation

Inedible fish products imports into Russia soared to X tons in 2022, growing by 120% on the year before. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 211% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, inedible fish products imports fell slightly to $X in 2022. Overall, imports, however, continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2015 with an increase of 46% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Uzbekistan (X tons) was the main supplier of inedible fish products to Russia, with a 99% share of total imports. It was followed by Belarus (X tons), with a 0.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Uzbekistan totaled +98.6%.

In value terms, Uzbekistan ($X) constituted the largest supplier of inedible fish products to Russia, comprising 52% of total imports. The second position in the ranking was taken by Belarus ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Uzbekistan stood at +75.6%.

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, reducing by -56.5% against the previous year. In general, the import price faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of 58%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Belarus ($X per ton), while the price for Uzbekistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+32.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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