Russian seafood exporters and importers to enjoy new trade conditions

December 1, 2010 15:56
The MICEX Stock Exchange has recently announced its plans to launch sales of Chinese Yuan until the end of 2010, while in its turn the Chinese Bank has launched sales of Russian Ruble, the development opening new opportunities for fish traders, reports (

More specifically, Yuan-RUR trade creates new conditions for the Russian and Chinese fish exporters and importers. In particular, the Russian importers of Chinese fillets will be able to pay in RUR, while the Chinese processors will be able to purchase raw material avoiding risks connected with USD fluctuations.

At the same time, according to a large fish exporter based in the Russian Far East, traders will hardly find any sense in exchanging the USD to Yuan or RUR as the Russian seafood exporters for instance do not need to purchase goods in Chinese Yuan. Besides, lengthy financial traditions are normally hardly changed. For instance, Japan and even Europe keep importing Russian fish in USD.

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