Russian Crab Group is the largest crab harvesting company in the Far East with an annual quota is more than 13,000 tons or 18% of total Far East basin

Prospects for Russian Crab Exports to China

RUSSIAN FEDERATION
Wednesday, September 11, 2024, 06:50 (GMT + 9)

Russia emerged as the leading supplier of crab to China in the first half of 2024, both in terms of export volume and value, according to the Main Customs Service of China. Russian exports accounted for 30% of China's total crab imports by volume and 57% by value, as reported by Sputnik China.

The largest Russian exporter of crab to China is the Russian Crab Group of Companies, a member of the Fishery Shipowners Association (FSA). In recent years, this group has been responsible for about one-third of Russia's exports of live and cooked-frozen crab to China.

Photo: Russian Crab Group/FIS

The Russian Crab Group identifies the Chinese market as the fastest-growing and most promising destination for Russian crab exporters. The company forecasts that by the end of 2024, global exports of live and frozen crab to China could exceed 60,000 tons, compared to just 27,000 tons in 2017. The company itself aims to increase its crab exports to China by 50% by the end of the year, compared to 2023.

“In the first half of 2024, we exported 5.6 thousand tons of live crab to China, which represents a 46% increase over last year. We anticipate that growth this year could surpass 50%,” stated Yulia Yurova, Deputy General Director of the Russian Crab Group.

Yurova also noted that, “As the purchasing power of the Chinese population increases, so does the demand for premium types of crab.” She emphasized Russia’s competitive advantage due to its geographical proximity to China, which ensures shorter transport times and higher quality of fresh products. Additionally, Russia controls 100% of the world's blue crab reserves and 92% of the Kamchatka crab reserves, which are among the most valuable crab species globally.

China-Russia trade volume

Meanwhile, data from China's General Administration of Customs on September 10 revealed that China-Russia trade volumes reached USD 158.469 billion from January to August 2024, a 1.9% increase year-on-year. During this period, China's exports to Russia amounted to USD 71.911 billion, an increase of 0.4%, while imports from Russia rose by 3.2% to USD 86.558 billion.

Photo: Sputnik China/FIS

In August alone, trade between China and Russia totaled USD 21.687 billion, with China exporting USD 10.264 billion to Russia and importing USD 11.423 billion from Russia.

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