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4 billion in2021
.
In 2022, the catch quota for Russian king crab will be 94% of the world's
.
However, Western countries have imposed trade sanctions on Russia, forcing more and more king crabs to flow to China and South Korea, leading to a new dilemma for the global market
.
"If Russia cannot export to the US, if the EU and Japanese markets start to weaken, we are likely to lose a group of Chinese customers and prices will fall
," Svein Ruud, general manager of Troika Seafood, an exporter of Norwegian king crab, told UCN that China is the world's largest exporter.
The live crab market, only China can absorb Russian production and bear the price pressure
.
," Svein Ruud, general manager of Troika Seafood, an exporter of Norwegian king crab, told UCN that China is the world's largest exporter.
The live crab market, only China can absorb Russian production and bear the price pressure
.
According to Ruud, Norway exported USD 67 million worth of live crabs in 2021, which is the result of the Norwegian industry operating in the East Asian market for several years
.
Of this, about US$42 million of live crabs were sold to mainland China, Hong Kong and South Korea, accounting for 60% of total exports
.
.
Of this, about US$42 million of live crabs were sold to mainland China, Hong Kong and South Korea, accounting for 60% of total exports
.
From June 23, the United States will ban the entry of all Russian-produced seafood, including products re-exported from South Korea
.
Crab veteran Les Hodges said Russia's Far East fleet has responded aggressively by trying to evade sanctions by accelerating shipments to China and South Korea, adding further pressure to the market
.
.
Crab veteran Les Hodges said Russia's Far East fleet has responded aggressively by trying to evade sanctions by accelerating shipments to China and South Korea, adding further pressure to the market
.
The Russian Crab Company, Russia's largest crab producer, declined to comment on the trade sanctions
.
.
Last year, Russia exported $1.
49 billion worth of frozen king and snow crabs, of which $540 million went to South Korea
.
A batch of crabs caught in the Russian Far East was transported from Japan and South Korea to the United States
.
In addition, China and South Korea imported live crabs worth US$546 million and US$335 million respectively, accounting for 95% of the export share of live crabs
.
49 billion worth of frozen king and snow crabs, of which $540 million went to South Korea
.
A batch of crabs caught in the Russian Far East was transported from Japan and South Korea to the United States
.
In addition, China and South Korea imported live crabs worth US$546 million and US$335 million respectively, accounting for 95% of the export share of live crabs
.
According to Hodges, Russia's main problem remains in the Barents Sea, where king and snow crabs are mainly supplied to Europe
.
Last year, Russia exported $929 million worth of frozen snow crabs and king crabs to the Netherlands, which were then sold to other European countries
.
.
Last year, Russia exported $929 million worth of frozen snow crabs and king crabs to the Netherlands, which were then sold to other European countries
.
However, Hodges said that despite the impressive growth of the Chinese market in recent years, Norwegian king crab has a relatively low share of the Chinese market; Norway's main live crab market is South Korea, with exports of about 522 tonnes in 2021
.
.
Japan is also one of the important importers of Russian crabs.
Last year, the transaction volume of cooked frozen snow crab reached 15,515 tons, and the transaction volume of cooked frozen king crab reached 1,521 tons.
Japan's live crab market is relatively small
.
Last year, the transaction volume of cooked frozen snow crab reached 15,515 tons, and the transaction volume of cooked frozen king crab reached 1,521 tons.
Japan's live crab market is relatively small
.
A Chinese king crab importer told UCN that prices for frozen crabs in Russia have fallen in recent weeks, and some imports of live crabs (via Hunchun) have been affected by some outbreak controls
.
There is good demand for frozen crab in mainland China, which is mainly consumed in self-catering channels in hotels
.
.
There is good demand for frozen crab in mainland China, which is mainly consumed in self-catering channels in hotels
.
The above-mentioned sources said that Russia may also export some frozen crab raw materials to China, which will be processed into crab meat and then exported to other countries, such as the United States
.
This part of the product is not affected by the sanctions, although the number is currently limited
.
.
This part of the product is not affected by the sanctions, although the number is currently limited
.
Given the size of the Chinese market, Hodges believes that the domestic epidemic problem could be more far-reaching than the impact of Western sanctions or boycotts
.
"China is like a mystery, July, August, September will usher in our season, but it's hard to predict what the Chinese market will look like
.
Europe has opened up, and although there are still many cases, people's lives are starting to normalize, China is in lockdown
.
"
.
"China is like a mystery, July, August, September will usher in our season, but it's hard to predict what the Chinese market will look like
.
Europe has opened up, and although there are still many cases, people's lives are starting to normalize, China is in lockdown
.
"
Hodges added that a direct flight from Norway to China was closed due to the epidemic, and European routes could not pass through Russian airspace.
China's imports of Norwegian king crabs needed to book a seat on Korean Air, and the transit in Seoul was extended.
The cost and transportation were extended
.
China's imports of Norwegian king crabs needed to book a seat on Korean Air, and the transit in Seoul was extended.
The cost and transportation were extended
.
“Almost every flight from Oslo, Norway to Toronto, Canada has carried live crabs since the beginning of 2022, and this trend will continue
.
There are also more routes to Norway, Europe, the US and Canada, which will also help driving growth
in the U.
S.
and EU," Hodges said
.
.
There are also more routes to Norway, Europe, the US and Canada, which will also help driving growth
in the U.
S.
and EU," Hodges said
.
