SIGNS OF A TRADE WAR BETWEEN CHINA AND RUSSIA OVER POLLOCK
Signs of a trade war between China and Russia over pollock?
China, which is the main buyer of Russian pollock, can use the closure of its ports due to the coronavirus pandemic and obtain the right to catch this fish in Russia itself, according to the British think tank Planet Tracker.
Beijing may pressure Moscow to obtain permission to fish for pollock in Russian waters. This conclusion is contained in the report on the pollock market Pollockonomics, published in July 2021, prepared by the British non-profit financial analytical center Planet Tracker.
This organization was created to investigate the risks of market disruptions associated with environmental resources. Center specialists interact with institutional investors and analysts to achieve sustainable development goals. Research areas include food and land use, oceans and seafood supply.
So, the report notes, the influence of the Middle Kingdom on the pollock supply chain became evident in early 2021. Due to the almost complete closure of the Chinese market for exporters of pollock from Russia, it has led to a sharp reduction in the catch. As of August 2021, according to the Federal Agency for Fishery, 1.24 million tons of pollock have been harvested in the Far East since the beginning of the year. This is almost 16% less than in the same period in 2020.