Locked out of Western markets, Russia recorded a dramatic increase in crab exports to China last year despite being forced to sell at a significant discount.
The value of Russia’s live crab exports grew at a much lower rate than volumes, Chinese port data showed, as a supply glut in the region made crab products less competitive on price.
“If you were to ask me about profit, I’d say it’s a good thing we can still pay taxes and salaries,” Vladimir Zhuravlev, CEO of the North West Fishing Consortium, told IntraFish.
