Russia imports more shrimp and other low-cost seafood from Asian markets

       In recent years, Russia has been turning to cheaper seafood imports from Asia. Before 2014, Russia mainly bought northern shrimp from Western countries, and after being sanctioned by Western countries, Russia began to turn to importing shrimp products from Asia, farmed shrimp account for 80% of the domestic market, and the price of these products is 1.5-2 times cheaper than wild shrimp.

       Russia also imports shrimp from Ecuador and other Latin American countries, but the shrimp products purchased from Asia can fully meet the domestic market. In 2021, the per capita consumption of shrimp products in Russia was 333 grams. From January to October 2023, Russia imported 465,000 tons of fish and other seafood, an increase of 26% year-on-year, and the import value was 1.9 billion US dollars, a year-on-year increase of 15%. The share of shrimp in the overall structure of Russian seafood imports is declining due to the decline in the purchasing power of Russians, replaced by cheaper alternatives such as squid.