The profit of fishing enterprises in 2022 may decrease by 16%

According to the results of 2022, the profit of the fishing enterprises of the Russian Federation will decrease by 16% – to 195.5 billion rubles. – comparing with the previous year. This forecast is made by analysts of the All-Russian Fisheries Association (VARPE). It follows from it that this indicator will fall, even despite the growth in revenue by the same 16% to 919.23 billion rubles.

VARPE President German Zverev explains the decrease in profits primarily by the growth of the costs of fishing enterprises. According to him, the companies faced an almost twofold increase in the cost of marine fuel, which accounts for up to 30% of the cost of fish products. If at the end of 2021 the prices for marine fuel oil and low-sulphur fuel were at the level of $500 and $650 per ton, respectively, then in May-June they rose to $846 and $1164. Another reason is the low volume of salmon production, as well as a decrease in fish supplies to Korea and the United States due to sanctions restrictions, Zverev added. According to the Federal Agency for Fishery, at the end of 2022, 271,000 tons of salmon were harvested in Russia against 453,000 tons a year earlier.