The profits of the Russian fishing industry in 2022 fell by almost a third due to the impact of Western sanctions and the sharp increase in costs. In this respect writer RBC refers to a message from the Federal Fisheries Agency representative and the recording of the ministry’s Public Council meeting.
In 2022, the Russian fishing industry faced a noticeable decline in profits despite growth in revenue. According to preliminary data for 2022, the turnover of enterprises engaged in fishing, fish farming and processing of aquatic biological resources amounted to 866 billion rubles. Compared to the previous year, the growth was 7 percent. In 2022, the financially balanced result (earnings before tax less losses) was RUB 158 billion. – a year ago this figure was at the level of 230 billion rubles.
According to the Federal Fisheries Agency, this has arisen because the cost of production has risen sharply. We are talking about the fact that the prices for the supply of spare parts and components through third countries are increasing. Also, the impact of the anti-Russian sanctions resulted in reduced profits for the most profitable players.
Analysts thought crab production was most affected. At the same time, crabs were the most marginal source of water for Russian fishermen. Therefore, the limitation of supply caused the supply to decrease from 95-96 thousand tons in 2022 to 59 thousand tons. Despite the gradual reorientation of the supply market, profits fell very strongly.
On March 6, Kommersant referred to the appeal filed by ASRF President Alexei Osintsev to the Ministry of Agriculture. WroteThat the Fishing Fleet Owners’ Association (ASRF) has proposed to the Ministry of Agriculture to discuss the possibility of increasing import duties on frozen fillets and frozen tuna.