Federal Fisheries Agency setting 4 million tonnes catch target for 2009

February 5, 2009 16:23

Russia's Federal Fisheries Agency targets a 20-25% rise in the industry's output  and a harvest of 4 million metric tons in 2009 as compared to 3.3 million tonnes harvested in 2008, reports www.fishnet-russia.com (www.fishnet.ru) with reference to Novyi Region.

The measures to help meet the above targets include among others state support in subsidizing interest rates for the fishermen's bank loans.

Historically, in all the economic crises fish production and consumption have been rising versus a decrease of production of other goods.

With the exchange rate of ruble to Euro and USD going up in the recent weeks, prices for imported seafood have also been increasing and the consumer will most probably prefer cheaper domestic products than more expensive imported food. This year the nation's capelin quota has been set at 152,000 tonnes and if the product appears at Russian shops at RUB40.00-50.00 per kilo versus RUB250.00 per kilo of meat, the consumer will obviously vote by his purse.

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