Russia's Federal Fisheries Agency anticipating boom of investments in aquaculture

Russia's Federal Fisheries Agency expects investment boom in the nation's fish farming sector when the Law on Aquaculture is finally approved by the Government, reports http://www.megafishnet.com/.

According to the Agency's PR head Alexander Saveljev, implementation of the Law (its draft has been read for the first time in the Lower House (State Duma)) will result into hundred thousands of new jobs in Vladivostok and Sakhalin regions. The nature has endowed those regions with favourable conditions for culture of such aquatic species as trepang, laminaria, sea scallops and other biological resources still remaining not popular on the domestic market, but enjoying strong demand on the Southeast Asian markets. Chinese buyers even do not limit volumes of trepang purchases with the Russian exporters welcome to bring as much of it as possible, Alexander Saveljev said.

The Law on Aquaculture would enable to raise aquaculture production to 410,000 MT by 2020 with annual consumption of fish products to grow to 21 kilos per capita.

To develop aquaculture Russia has 225,000 square meters of lakes, 43,000 square meters of man-made lakes, 520,000 km of rivers as well as vast areas of inshore marine waters.

At present Russia contributed only 0.2% to the world output of farmed fish. More specifically, the country annually produces 130,000-140,000 MT of aquaculture products and mariculture production even fails to exceed the level of 10,000 MT. There are only a little more than 2,000 small and medium ventures engaged in fish farming activities in the country.