The Russian fishing industry has been growing, and a more liberal market environment has emerged even under sanctions, yet retail prices for Russian fish continue to climb. Consumers now face a choice: pay more for domestic options or turn to budget-friendly substitutes from Asian producers. This perspective comes from Yan Dmitrenko, a fishing-industry expert and restaurateur, who spoke to socialbites.ca about current price dynamics in the fish and seafood sector.
As Dmitrenko notes, a significant share of premium quality seafood is shipped abroad from Russian fisheries.
“A large portion of the top-tier products goes to Japan, China, and South Korea, where almost all premium catches—Kamchatka crabs, sturgeon caviar, cod, and other seafood—are absorbed by those markets. Locally, the remaining stock commands inflated prices, turning once-accessible delicacies into items out of reach for many households. At the same time, wholesale buyers are sourcing seafood from South Asian nations, where prices are substantially lower, though the quality there may be middling,” he explained. [CITATION]
The expert suggested that the remedies lie in quotas and a formal exchange framework for trading fish.
“Organized fish auctions could address several issues at once. First, a transparent marketplace could curb the dominance of a few large industrial players who can set high prices when options are scarce, forcing the market to adjust. Second, these auctions could establish a reference price system for fish and seafood on a national scale. In this scenario, an independent price regulator would gain a foothold in the market,” Dmitrenko added. [CITATION]
Yet, he warned that uneven quota implementation in the foreign exchange space might create unnecessary constraints for the domestic market.
“If organized trading remains confined to the domestic arena, firms could face added burdens that raise final consumer costs over time. Therefore, it is crucial to set export quotas that help saturate the Russian market with high-quality domestically caught fish at reasonable prices,” he noted. [CITATION]
Ultimately, the expert pointed out that industry players are prepared to participate in competitive barter-style auctions for seafood.
“Wholesalers are keen on promoting Russian fish and are actively backing measures that support import substitution under competitive terms,” the restaurateur emphasized. [CITATION]
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