Trends and specifics of fish products prices in Russia

Abstract

The purpose of the paper is to describe the patterns of price formation for fish products, which are basic food products. Our analysis uses the method of decomposing price dynamics into two components: a trend that is explained by long-term factors and short-term volatility. It is desirable to conclude that the rise in prices for fish products, which in recent years has outpaced general food inflation, has led to a marked reduction in the consumption of fish products. Price growth not only outpaced general food inflation, but was highly volatile. Our study of the dynamics of prices for the most popular fish product – frozen cut fish revealed a cyclical change in prices against the background of its exponential growth and an increase in the spread of price changes relative to the trend. These features pose a threat to food security, since the domestic fish industry as a whole, having achieved self-sufficiency in the country with fish products, has not yet solved the problem of its low availability for consumers.