Russian crab industry has successfully rebuilt exports
A significant part of Russian crab exports has been redistributed to Asian markets after the US market closed, an analysis of the Fishery Shipowners Association of (FSA) showed. According to the data of national government statistics, for the three quarters of 2022, China, South Korea and Japan increased crab imports from Russia by 7.6 thousand tons (+28%), which compensates for the drop in volumes by 2/3.
In addition to the traditional ones, promising export directions to the countries of Southeast Asia (Indonesia, Vietnam, Singapore) and the Middle East are also developing.
According to the Federal Agency for Fishery, the volume of crab production has been maintained at the level of 2021, which indicates the stability of the fishery, even taking into account export restrictions.
The prompt reaction of key market participants made it possible to maintain the stability of the crab industry. Stable sales of Russian crab products are ensured by stable demand, as well as world resource reserves limited by natural factors.
Fishery Shipowners Association President