Mandatory labelling halves Russia’s illegal caviar market to 14%
The illegal share of Russia’s red and black caviar market fell from 28% in 2023 to 14% in 2026 following the introduction of mandatory product labelling. The traceability system generated about ₽8 billion in additional budget revenue, while fish processors also reported higher profitability.
Illegal share falls from 28% to 14%
The share of illegally traded red and black caviar in Russia fell by half between 2023 and 2026 after mandatory labelling was introduced for fish products. The illegal segment declined from 28% of the market to 14%, according to a report published by Rambler Finance.
The reduction generated approximately ₽8 billion in additional budget revenue. The figures indicate that product traceability is moving a significant part of the caviar business into recorded supply chains, where sales and tax obligations can be monitored.
For legitimate producers and distributors, the change reduces competition from suppliers that avoid taxes or sell products outside regulated channels. This is particularly relevant in caviar, a high-value category in which undeclared products can undercut compliant companies and make product origin harder to verify.
Fish preserves show a similar decline
The fish preserves segment recorded the same proportional improvement. Its counterfeit share fell from 15% in 2023 to 7.5% in 2026, contributing around ₽26 billion in tax revenue, the report said.
The figures for both categories fit a broader contraction of Russia’s grey retail economy. Across the country, the grey market’s share of trade decreased from 26% in 2018 to 9% in 2025. Annual losses to budgets at all levels from illegal turnover are still estimated at ₽350-400 billion, leaving substantial scope for further enforcement and traceability measures.
Experts from HSE University said labelling helps prevent those losses. Their assessment suggests that the cost imposed on manufacturers is limited: compliance with the new requirements adds about 0.3% to production costs when calculated using producers’ actual expenses.
Profitability rises for legal processors
Rosstat data show that profitability in fish processing and preservation increased from 11% to 15% over three years. The available figures do not isolate labelling as the only cause, but the simultaneous reduction in illegal supply supports the view that compliant processors are operating under more balanced competitive conditions.
The consequences extend across the domestic value chain. Producers gain better protection from unregistered competitors, processors can compete with a larger share of the market subject to the same requirements, and retailers receive a clearer mechanism for checking goods. For investors and market analysts, the combination of a lower illegal share, higher reported profitability and additional tax receipts points to greater formalisation of Russia’s caviar and preserved-fish sectors.
