Record high Russian exports of live crab to China

January 15, 2021 23:36

The Russian live crab exports to China may be hitting nearly US$400 million by the end of 2020 as the sales in November significantly exceeded expectations. The activity of imports of Russian and American products has increased especially strongly. Combined with a substantial price rise this fact further convinces market players of the healthy and promising nature of demand, reports

According to Japanese seafood media, the total import volume of live, fresh and chilled crab to China in November 2020 reached 5.76 thousand tons, 29% higher than the volume of November 2019, and its value increased by more than 45% reaching more than US$95 million due to the fact that the average import price (CIF) rose by almost 13% and reached the level of more than US$16.50/kg.

Import prices of Canadian products rose by only 2.5%, to about US$17.30 per kg, while the volume fell by 25% and was limited to 0.37 thousand tons.

Deliveries of American products, which were also mainly represented by Dungeness crab, were limited barely to 0.17 thousand tons, but this is twelve times more than was delivered in November 2019, and the price rose by 17% reaching almost US$18.00/kg.

The main source of live crab to the Chinese market was again the Russian fishery, which provided exactly a third of the total volume of the November imports. Deliveries of the Russian products in November increased by almost 4% and reached 1.93 thousand tons, exceeding the total volume of 2019 by more than 30%.

The average import price, reflecting the increase of the king crab share, rose relative to November 2019 by 19% and reached more than US$29.35 per kg (CIF), 9% higher than the October import prices.

In January-November 2020. prices for Russian supplies rose by an average of 12% and reached US$27.65 per kg.

Since the supplies volume increased by 3% to 11.83 thousand tons (1.6 times more than the total supply from North America and Norway). the value of imports by December exceeded US$327 million.  This was 5% higher than the annual value 2019 (US$310.5 million). which was already record high in the history of the Russian export of live crab to China.

It is expected that at this rate the value may have nearly hit an unprecedented high level of US$400 million by the end of 2020.

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