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Wild salmon and pollock from the Far East are the most sought-after raw materials by reprocessors and importers in China, Korea, and Japan.
Russian Seafood Strategy Shifts Focus to the Global South
(RUSSIAN FEDERATION, 10/18/2024)
The Global South—comprising countries in Africa, Asia, and Latin America—is poised to become a central market for Russian seafood exporters. This strategic direction was highlighted by Prime Minister Mikhail Mishustin during the "Made in Russia" forum on October 14.
.jpg) Veronika Nikishina, Director General of the Russian Export Center, echoed this sentiment, emphasizing the region's importance. Even earlier, German Zverev, President of the All-Russia Association of Fishing Industry, Businessmen, and Exporters (VARPE), identified the Global South as a critical area for Russian fishermen, as reported by VARPE.
Mishustin explained that even without the current geopolitical landscape, stagnation in developed economies would have prompted a shift in export focus. However, sanctions have accelerated this transition. Citing expert forecasts, Mishustin noted that over the next six years, demand from the Global South is expected to grow by nearly ₽400 trillion (U$D 40.1 billion). “We must actively develop these markets, ensuring our counterparts view Russian suppliers as reliable, long-term partners offering quality products,” he stated.
.png) Currently, about 85% of Russia's export revenue comes from Global South countries, which have become essential markets for Russian goods, according to Nikishina. This success, she said, stems from a deliberate focus on the region.
German Zverev also emphasized the potential of these partnerships during a Federation Council session in March. He pointed out that Africa’s coastal waters contain untapped reserves of aquatic bioresources, and the Russian fishing industry is well-positioned to collaborate with local partners in developing these resources.
In some Global South markets, such as China, Russian fish and seafood already make up a significant portion of imports. However, VARPE sees further opportunities to expand both the volume and variety of exports to other regions, particularly Africa and Latin America.
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