Red caviar prices to drop in Russia

Russia's domestic prices for red caviar could drop 10% after the New Year, Fish Union chairman Alexander Panin said.

He recalled that red caviar prices have recently declined after rising sharply in the autumn owing to a reduction in salmon catches.

"The price should gradually decline after the New Year. I would definitely bet that the price should decrease 10%," Panin said.

He said that there is more than enough caviar on the market. Demand has dropped owing to the high prices compared to last year, when a kg of red caviar cost 6,000-8,000 rubles. The price has soared to 13,000 rubles this year.

Panin emphasized that "there should definitely not be a shortage of caviar, and it should remain for the post-New Year period and last until Maslenitsa."