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Shetland Catch fish processing plant. (Photo: Shetland Catch)

Shetland Catch feels the negative impact of Russian restrictions

  (UNITED KINGDOM, 1/16/2016)

The Scotish fish processor Shetland Catch has reached worrying financial levels, situation which it says is due to the ban imposed by Russia on imports of fishery products from the UK and other western countries.

The figures presented by the company, which is headquartered in Lerwick, capital of Shetland Islands, show pre-tax losses of GBP 199,771 (USD 287,752) during the 12 months to 31 March, against profits of GBP 3.11million (USD 4,47) the year before.

Turnover in the latest period totalled GBP 45.9 million (USD 66.1 million), down from GBP 63.6 million (USD 91,6 million) in 2013/14, because the restrictions imposed by Russia have had a negative impact on the mackerel sales of the company.

In response to the punitive measures that the European Union (EU) agreed to apply on Russia for its intervention in Ukraine, the Russian government imposed an embargo on food imports from the bloc in August 2015.

Russia and the Ukraine previously accounted for just under a third of Shetland Catch’s mackerel business.

The Company director John Goodlad said the “disappointing results” were linked to an “extremely challenging mackerel market with the combination of historically high quota levels combined with difficulties in key Eastern European markets.”

“Despite a relatively modest product level of summer herring, our continued focus on higher quality products led to a better margin for this,” he pointed out.

Shetland Catch executives see that prospects for the coming herring season are positive and the early indicators are for a further increase of 20 per cent for the 2016 North Sea herring quota, The Herald informed.

The pelagic fish factory located in Gremista is now working with the Scottish Government funded Scottish Development International programme to explore the possibility of exporting to Japan, Korea and Taiwan.

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Information of the company:
Address: Gremista
City: Lerwick
State/ZIP: Shetland (ZE1 OPX)
Country: United Kingdom
Phone: +44 159 569 5740
Fax: +44 159 569 5761
E-Mail: [email protected]
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Approval / Accreditation / Certified / Oversight by...
IFS (International Food Standard)  HACCP  MSC/Marine Stewardship Council  E.U.  RF (Russia)  EFSIS/European Food Safety Inspection Service 



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