Saving Seafood

Forbes pins sales of Russia’s top 10 seafood firms at almost $4bn

December 18, 2019 — The combined turnover of Russia’ top 10 seafood companies is RUB 238 billion ($3.80bn), according to a ranking of the top owners and firms in the sector from Forbes.

Forbes last ranked the top companies in the sector in 2017, but focused on volume then. However, for the 2019 edition, turnover is the metric used, with Norebo Holding coming out on top, with almost $1bn in turnover. Forbes also estimates 2 million metric tons of quota has been allocated to the top 10 companies in 2019.

According to Forbes, Vitaly Orlov and his Norebo are the largest player in the sector, with turnover of RUB 58.2bn ($929.45m). Norebo, which is the subject of a bitter legal dispute in the UK’s High Court of Justice, spent about $600m to buy competitors in the North-West and Far East in 2011-2013, according to Forbes.

Read the full story at Undercurrent News

Russian Pacific cod MSC approval has catchers eyeing more EU, US sales

October 18, 2019 — A portion of the Russian longline Pacific cod and halibut fishery has been certified as sustainable to the Marine Stewardship Council (MSC) standard, meaning the country’s catchers are set to further target the European and US markets.

The approval took place on Oct. 9 and this means all cod and halibut from the certified management areas caught after Aug. 1 this year can be sold as MSC certified, Sergey Sennikov, director of sustainability for Norebo Holding, Russia’s largest fishing company, during the 2019 Groundfish Forum in Berlin, Germany.

“We can target Europe and the US as well, as Pacific cod is well known in the US. It’s about having more access to the market,” he said. This places Russian Pacific cod more closely in competition with product from the US. The US fishery has been MSC certified for many years, but catch allocations have been coming down.

According to the public certification report on the Russian fishery, the portion of the total allowable catch (TAC) for Pacific cod covered by the MSC approval is 31.8%. The report only gives a TAC for 2016-2017, which was 140,000 metric tons, meaning 25,200t of this would be eligible for sale as MSC-approved.

Read the full story at Undercurrent News