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Background last update:14 Jan 2016

Russia to develop its aquaculture industry by 2015

Russia will adopt a targeted programme for the development of its aquaculture industry by 2015, said Minister of Agriculture Nikolai Fyodorov at a recent meeting.

"We are going place a number incentives in for the development of current businesses," said the Minister. "Because of today's situation it is inconvenient and even embarrassing as we are a marine power country but we still have to purchase water resources from other countries."

As noted the officials there will be quite a lot area of industry support.

"This involves the repayment of the interest rate on loans and subsidies of the economically significant projects" has been noted at the meeting. "In addition, all aquaculture farms will be exempt from income tax until 2018. Also we can provide the necessary resources for such farms: these support tools we are using and will use them in the future."

The Belgorod region according to the plans will become the center of aquaculture business in Russia. The local business plans to start the commercial production of valuable species of fish - trout, sturgeon and caviar. By 2018, the region is going to receive more than 3,600 tonnes of trout, 650 tonnes of sturgeon, as well as 36 tonnes of caviar and 70 tonnes of trout.

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