Russia Red Caviar Output Seen Falling 3-Fold by 2026 on Weak Salmon Run

Russia's Fish Union projects red caviar production to drop to 4,000 tons in 2026 from 12,000 tons in 2025, citing a weak salmon run. The forecast signals a supply shock for a key Russian export and domestic staple, with potential price inflation and market disruption. The accuracy depends on actual salmon migration patterns, which are inherently variable.