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Russian Fish Market could Double in Next 5 Years

Sustainability Economics +3 more

RUSSIA - The volume of Russian market fishery products in terms of value now stands at about 480 billion rubles. In the next five years this can be doubled, predicts the general director of "Northwest fishing industry consortium" (SZRK) Dmitry Denezhkin.

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"The market can be doubled within the next five years in terms of money," he said, in the first All-Russian Conference of fish processing enterprises, reports RIANovosti.

According to him, the Russian market of fishery products can now be estimated at about 480 billion rubles at the level of consumption of 22 kilograms of fish per capita and a population of 145 million.

Conventionally, the average price of primary products is 100 rubles per kilo, products with high added value - 200 rubles per kilogram in total consumption of these foods occupy an approximately equal ratio.

In this, Mr Denezhkin drew attention to the fact that today there are a variety of estimates for the fish market. "But a truely reliable market information source does not exist", he added.

According to experts, the growth of market value will occur with an increase in fish consumption, continued food inflation, changes in market structure in favour of products with higher added value, and products of deep processing.

"Most of these processes are already underway. Consumption is growing - five years ago was 13 pounds per capita, now 22 pounds, one can imagine that, 30 pounds is not far off," said Mr Denezhkin to RIA Novosti, adding that the growth rates of fish consumption is higher than for meat. "Food inflation also exists," continued Mr Denezhkin, noting that experts predict a further rise in food prices in the world.

"In addition, the proportion of urban population is growing," he said, explaining that citizens prefer products with high added value, that is, products that are either ready to eat, or they can be cooked quickly.

Head of Research Center for Information Agency for Fisheries, Timur Mitupov, assessed the capacity of the fish market on the basis of the Russian Federation in 2011 to more than 500 billion rubles.

He expects that by 2020 the amount of fish consumption in Russia may reach 26-28 kg per capita. He predicts a 2012 growth rate of retention volume of fish catch at four per cent, the growth rate of fish production could increase to six per cent versus 3.3 per cent a year earlier.

According to Mr Mitupova, the dynamics of growth in consumption of processed products in recent years greatly exceeds the rate of increase in consumption of fish "in plain sight", ie the share of processed products is growing.