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DGM Shipping to resume export of Estonian fish products to Russia this week

Staff Writer |
The Estonian company DGM Shipping is about to resume the export of fish products to Russia this week, after Russia's food and agriculture watchdog Rosselkhoznadzor lifted its ban on the import of sprat from DGM Shipping and one Latvian company, reports LETA/BNS.

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"We intend to start the export of a semi-finished fish product to large fish processing companies in Russia this week, which will create additional competition on the Russian market and enable to cut the prices for consumers," Aljona Protassova, marketing director at DGM, told BNS.

Protassova said that after the embargo was imposed by Russia the purchase prices for sprat and Baltic herring in that country rose almost threefold, which makes the market attractive for DGM Shipping.

"At the same time, the purchase prices of fish in Latvia and Estonia have fallen a lot, fishers have had to endure serious losses and ship fish as feed for wild animals to Denmark, where logistics eats up all their profits," Protassova said.

The market situation has improved for DGM Shipping of late also not considering the Russian market.

"We can see new markets opening up. In the second quarter of 2018 we will be able to take into use two large plants in Estonia and Latvia for the manufacture of fishmeal and fish oil, the main consumers of which are China, Germany and the United States," Protassova said.

"Generally speaking, we hope to develop normal economic ties with Russia and to leave the political factor aside," she added.

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