Total profit of Vladivostok fish companies doubled in 2007

Primorsky Krai Territory (capital Vladivostok) displayed a 6% increase of catches of aquatic biological resources to 676,300 tonnes in 2007. More specifically, the province's fishermen reported larger catches of Alaska pollock, flounder, grenadier and saury. Besides, the province showed a stable growth of production output, according to Regnum.

The province's output of fish products exceeded 17 billion RUB. Through the year under analysis the local companies produced 560,400 tonnes of fish products, including canned fish. Vladivostok producers reported a 2.2-fold increase of fish output, a 1.2-fold rise of frozen fish production and a 1.8-fold increase of the output of ready-to-eat fish. Besides, the local companies produced 23,000 tonnes of technical products (fish meal and fodder fish).

There was also positive dynamics in the financial sphere of the province's fishery industry as the total profit of local fish companies nearly doubled to 1.7 billion RUB. Another positive signal was growing wages in the fishery sector rising by 7.1% to RUB13,350 per month as compared to the previous year 2006.

Within the framework of the priority national project "Development of The Agroindustrial Complex" four Vladivostok-based fish businesses received investment credits. In the first two months of the year 2008 another six companies engaged in fish culture applied for bank loans.

Head of the province's Fishery Department Igor Uleysky says that in 2008 the fishery complex of Primorsky Krai is supposed to speed up the growth rates of commodity production, to increase the sector's competitiveness and to actively attract investments into construction of fishing vessels and development of onshore fish processing factories.