Russian government to extend zero import duties on trout and salmon fry

The Sub-Commission on Customs Tariff and Non-tariff Regulation, Protective Measures in Foreign Trade has proposed to extend zero rates of import customs duties on trout and salmon fry until December 31, 2024, reports Megafishnet.com.

According to the Ministry of Economic Development of the Russian Federation, currently, the exemption is valid until February 28, 2022.

"Maintaining zero rates for young fish will help increase the volume of domestic salmon in the food market. This measure will allow us to implement the investment plans of our enterprises and solve one of the tasks of ensuring the country's food security, " said Vladimir Ilyichev, Deputy Minister of Economic Development of Russia.

The extension of the zero duty will stimulate the development of aquaculture enterprises engaged in commercial aquaculture by increasing the tax deductions of companies.

"Salmon farming is the most promising direction of commercial aquaculture. Since 2013, the volume of salmonid production has almost tripled and reached 116 thousand tons in 2020. This is approximately the same amount that Russia had imported from Norway before the counter sanctions were imposed on chilled, live and frozen fish imports from the country. Further development of the market requires high-quality stocking material, as this segment is only emerging in Russia, " said Ilya Shestakov, head of Russia’s Federal Agency for Fishery.