The retail price for red caviar in Russia has reached a historical high, RBC reports citing the Federal State Statistics Service (Rosstat).
According to the report, as of October 2021, stores offered red salmon caviar at RUR 5,000 ($67) per kilo.
Prices for red caviar have not risen to such a level in the entire available observation history since 2000, RBC writes. Over the past 21 years, the price has grown 7.4 times.
Interestingly though, this trend coincides with a record salmon catch of 533,000 metric tons, an absolute high for the entire observation period. It is also 80% higher than last year.
According to the estimates of the All-Russian Association of Fisheries, red caviar output is expected at about 27,000-30,000 tons this year, while the domestic market capacity is 14,000-18,000 tons.
Experts do not believe there are any objective reasons for red caviar price hikes. However, according to Rosstat, intermediaries and profiteers are creating an artificial speculative demand by holding up its stocks at warehouses.