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Russia-Ukraine conflict, seafood trade in Maine will be indirectly affected

 Last Update: 2022-04-17
 Source: Internet
 Author: User

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From SeafoodNews on March 2, although most of Maine 's lobster and other seafood are not directly traded with Russia, they expect the conflict between Russia and Ukraine will have an indirect impact
.

In 2014, Russia stopped importing seafood from the United States and the European Union in retaliation for Western sanctions on Russia over Crimea, a ban that remains in effect
.
The current situation in Russia and Ukraine is bound to exacerbate the current supply chain, inflation and high energy price problems, and may indirectly damage the seafood industry in Maine
.

Richard Hall, director of caviar trading at Browne Trading Company in Portland, said the company has not imported or exported any product to Russia for more than 10 years due to the political situation and the intermittent embargo
.
In the past, the company cooperated with Russian farms almost every week.
Today, we can only inform customers that they are still on the cooperation list, but we cannot cooperate with them
.

Marianne LaCroix, executive director of the Maine Lobster Marketing Collaborative in the U.
S.
, said no lobster is currently being exported to Russia, and only a small amount of Maine lobster is being exported to Ukraine
.
The U.
S.
exported 47 tons of lobster to Ukraine in 2021, worth $866,117, according to the National Oceanic and Atmospheric Administration (NOAA)
.

　　Annie Tselikis, executive director of the Maine Lobster Dealers' Association, said that while lobster wholesalers cannot export directly to Russia, live Maine lobsters do enter the Russian market because the trade is done through conducted by a third party, so it is impossible to know the "true" value of the transaction
.

　　Annie Tselikis believes that the global crab and whitefish market will feel a greater impact.
Russia produces a lot of green cod, cod and crab.
In 2021, the United States imported seafood from Russia worth $1.
2 billion, of which more than $900 million Of the snow crabs and red king crabs, Russia imported only $10 million worth of seafood from the United States, of which $9.
6 million was inedible fish oil, while seaweed and sea cucumbers were the only edible seafood imported
.

　　U.
S.
Senators Lisa Murkowski and Dan Sullivan, Republican of Alaska, introduced a bill to ban imports of Russian seafood to correct the imbalance, as cheap Russian crab crippled the Alaska crab industry
.
The U.
S.
-Russian Federation Seafood Reciprocity Act of 2022 will ban the import of Russian seafood and related products
.

　　European countries are likely to pass similar sanctions, with 19 percent of pollock and 17 percent of cod imported directly from Russia, according to the European Fish Processors and Traders Association.
There is also indirect supply of cod, and many Russian whitefish are processed in China before being shipped to the EU
.

　　Finn Arne Egeness, senior whitefish analyst at Nordea Markets, said that if the EU imposed sanctions on Russia on seafood, it would be "a game changer in the short term", leading to shortages and sharp price increases
.

　　The US is the main supplier of whitefish to the EU (about 435,000 tonnes, or 44% of EU cod imports), and may have the opportunity to fill some of the gap if import sanctions are imposed on Russia
.
However, Ben Martens of the Maine Coast Fishermen's Association said that at the moment Maine seafood does not have "direct" access to the European market
.
He explained that, in addition to lobster, Maine-caught seafood, such as scallops or bottom fish, including cod, haddock, flounder, green cod, blackfish, etc.
, are not well-traded with the European market.
Supply chain disruptions can create problems, and supply chain issues, economic pressures from inflation, and high energy prices could reduce demand for Maine seafood
.

　　Russia is a commodity-based market that mainly exports oil and natural gas
.
Neither Maine nor the U.
S.
as a whole has direct trade with Russia in these areas, and neither Russia nor Ukraine are among the top 25 U.
S.
exporters and importers, which account for 93 percent of Maine's international trade
.

American Lobster Seafood

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