 Investors and joint venturers from Japan,
Korea, the United States and many other contries are watching the Russian
seafood industry. There is no certainty and no reliability in Russia at
this point. (Dr. Vidar Wespestad) Russia is experiencing
a modernization process with new vessels from Europe and conversions from
the U.S. and Europe. (The Kamchatka Fisherman, May 18, '98)
Currently, the Russians are buying mostly cheap products, such as a herring
and mackerel. However, purchases of salmon and other higher-priced prducts
are also on the rise. Peter Gati of the Norwegian Seafood Export Council
says, some segments are willing to pay more than U.S. buyers. In the long
term, that could mean more competition for limited seafood resources. Currently,
however, there is a large-scale foreign investment in the fishing industry
in Japan, Korea, Taiwan, Vietnam, Thailand, the Netherlands, Germany, Norway,
Finland and the U.S.
The 9.2 million metric tons harvested by the USSR in 1991 was its lowest
total in more than a decade. Since then, things have gotten even worse.
The National Marine Fisheries Service estimated that Russia harvested just
5.4 million m.t. in 1992, of which 2.5 million m.t. were exported. The problem
is that Russia is grossly in debt. It owes $80 billion, says Professor Tauno
Tiusanen, director of the Institute of Soviet and East European Studies
at the University of Glasgow, Scotland. Russia is, by international standards,
uncreditworthy. |
Salmon
Mark Herrmann, assistant professor at the University of Alaska, Fairbanks,
predicts an increase in processed [Russian] salmon that matches current
western standards and tastes.
Bottomfish
The almost 50% devaluation of Russian currency on Augusst 17th, 1998 will
greatly limit Russia's bottomfish and other seafood imports This probably
will reduce export prices and stimulate exports because international prices
will be stronger and domestic prices will be much lower than they have been.
This will affect the European, North American and Japanese markets for bottomfish
and other species.Bill Court, 8/17/98
Sturgeon
Russia plans to introduce caviar export quotas in a bid to protect the dwindling
sturgeon population. |