Russian Fish Exports Surge 19% to $6.1 Billion as Domestic Prices Rise

Russian fish exports surged by 19% in 2025, reaching $6.1 billion, as the industry prioritizes the Chinese market over domestic supply. Despite record catches, high export demand and state incentives are driving up prices for Russian consumers. Russia ships between 1.5 and 2.1 million tons of fish abroad annually. The domestic market remains vulnerable to price volatility in China, where export costs can fluctuate by as much as 24% per month. Macroeconomist Artem Loginov notes that producers prefer selling for foreign currency based on global quotes, forcing local buyers to compete with Chinese importers. Government fiscal policy further incentivizes exports. The abolition of export duties in November 2024 contributed to the recent spike in shipments. Additionally, exporters benefit from VAT refunds, a privilege not available to domestic buyers. To further reduce costs for outward shipments, the government plans to allocate 10 billion rubles annually from 2026 to 2028 to compensate companies for up to 25% of their logistics expenses. Tax consultant Irina Zaitseva suggests these preferences shift business priority toward maximum margins via export rather than market demand.