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In response to Russia's conflict with Ukraine, many of the world's largest crab markets, including the United States, the European Union and the United Kingdom, have announced bans on imports of Russian products
.
Meanwhile, China has imposed epidemic restrictions in Shanghai and several other cities, a move expected to hinder the flow of Russian seafood into China
.
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Meanwhile, China has imposed epidemic restrictions in Shanghai and several other cities, a move expected to hinder the flow of Russian seafood into China
.
According to Reuters, Russia has more than doubled its supply by diverting most of its crab exports to South Korea, causing South Korean crab prices to fall sharply over the past month
.
The price of live snow crabs dropped from 50,000 won ($40.
60) per kilogram in mid-February to 23,000 won ($18.
70) per kilogram at the end of March, according to data from Noryangjin Fisheries Wholesale Market, South Korea's main seafood market.
)
.
.
The price of live snow crabs dropped from 50,000 won ($40.
60) per kilogram in mid-February to 23,000 won ($18.
70) per kilogram at the end of March, according to data from Noryangjin Fisheries Wholesale Market, South Korea's main seafood market.
)
.
South Korea has so far not restricted food imports from Russia, but has reduced coal imports from Russia and announced other economic and financial sanctions
.
.
