October 10, 2005

USDA: Russian Federation fishery products annual 2005

Russian fish production in 2005-06 is estimated to increase by an average of three percent from 2004. 

Continued improvements to Russia's fishing fleet and more production coming from Russia's Exclusive Economic Zone (EEZ) are the main drivers behind this output expansion.

New policy measures aimed at tackling old constraints are being implemented, but traders are asking for further improvements to the quota system.

In 2004, Russia continued to be a net importer of seafood - a trend that started in 1998 with the devaluation of the ruble. This trend is likely to continue in 2005-06 since production of fish and fish products in Russia is still below historical levels and is not keeping pace with increased domestic demand for fish. 

Russia has experienced six straight years of strong economic growth. As a result, consumer incomes have been rising on a yearly basis as well. In addition, the country remains an exporter of unprocessed fish products. Foreign investment in the sector remains low.

For the full USDA report, click here.