Shipowners warned of a possible increase in fish prices after the change in the Customs Code

Amendments to the Customs Code of the Eurasian Economic Union (EAEU) may lead to an increase in fish prices in the Russian domestic market. This is stated in a letter from the Association of Shipowners of the Fishing Fleet (ASRF; unites the structures of the Russian Fishery Company, Russian Crab, Norebo and For Group) to the Ministry of Agriculture, the Ministry of Economic Development, the Ministry of Finance, as well as to the Russian Union of Industrialists and Entrepreneurs. It says that this can happen if the fish caught by Russian fishermen in the areas of international treaties is not recognized as the product of the EAEU. The letter was signed by Alexei Osintsev, President of the ASRF. Copies of appeals are at the disposal of Vedomosti.

In the current version of the Customs Code, the issue of the origin of fish is not regulated in any way, and water resources extracted by our companies in the areas of international treaties and in the exclusive economic zones of other states are not considered imported goods. They do not have to pay an import duty of 5% and VAT of 10%. But on May 22-23, the expert group on improving customs regulation in the EAEU plans to consider a draft amendment to this document. If they are accepted, such fish will no longer be considered as produced in the territory of the Union. According to Osintsev, due to the need to advance VAT and import duties, fishermen will have new costs: “The costs will negatively affect the prices of products in the domestic market, and this will reduce its competitiveness and ultimately affect demand.”