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As prices rise and supply decreases, consumers may face new challenges when purchasing this traditional delicacy.
Retail sales of red caviar in Russia are still experiencing 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 Kommersant with reference to data from the OFD platform.
The decline in demand for this delicacy is explained by a sharp rise in prices associated with a shortage of supply caused by a sharp decline 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 Association of Fisheries (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. This data shows how much the market has changed in the short term.
Russian Agriculture Minister Oksana Lut explained the situation by saying that although the status of the product cannot be classified as a social category, it is important to meet the needs of Russian consumers first.
According to VARPE President German Zverev, Pacific salmon catches reached 231 thousand tons by October 15, which is 2.6 times less than the previous year and 15% less than in 2022. Experts predict that the situation could become more difficult towards the end of the year, as retailers will run out of inventory accumulated over the past year.