Supplies of Russian crabs to the Asia-Pacific countries grew by a third
Russian export of crab products to the Asia-Pacific countries grew by a third (+36%) in 2022 compared to 2021 (56,4 ths. tons in 2022, 41,6 ths. tons in 2021) analysis of the Fishery Shipowners Association have showed.
According to data from the government statistics websites in 2022 China’s import of Russian crab products reached 23,4 ths. tons (+41% by 2021). South Korean and Japanese import values stood at 18,7 ths. tons (+39% by 2021) and 14,3 ths. tons (+24% by 2021) respectively.
Financial value of imported Russian crab products by countries also increased. In China it grew from 672 to 770 Mn. dollars in South Korea from 453 to 464 Mn. dollars in Japan from 346 to 350 Mn. dollars.
The trend continues in 2023. According to available data in terms of weight South Korea alone imported 59% more in the first quarter of 2023 than in the same period of 2022. A comparable increase in imports in China and Japan is expected.
We see that crab products demand in global markets remains strong as well as investments attractiveness of this type of natural resource for fisheries industry.