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Reasons for the decline in demand for red caviar have become known
As prices rise and supply dwindles, consumers may face new challenges when purchasing this traditional delicacy.
Retail sales of red caviar in Russia continue to experience difficulties: in September 2024, they fell by 8% compared to the same period last year. In the capital, the situation is even more alarming. The rate of decline was 14%. This was reported by the Kommersant publication, citing data from the OFD platform.
The decline in demand for this delicacy is explained by a sharp rise in prices associated with a supply deficit caused by a sharp reduction in pink salmon catches. The average price of red caviar in September reached 3.3 million rubles in Russia and 3,600 rubles in Moscow, an increase of 8% and 9%, respectively.
The All-Russian Fishing Association (VARPE) reported that wholesale prices for red caviar in August 2024 reached 4.8 thousand rubles per kilogram, which is 50% higher than last year. These data show how much the market has changed in the short term.
Russian Minister of Agriculture Oksana Lut explained the situation by saying that, although the product’s status cannot be classified as a social category, it is important to first and foremost satisfy the needs of Russian consumers.
According to VARPE President German Zverev, by October 15, the Pacific salmon catch reached 231 thousand tons, which is 2.6 times lower than in the previous year and 15% lower than in 2022. Experts predict that the situation may become more complicated by the end of the year, as retailers will run out of stocks accumulated last year.