Vietnam: Catfish and seafood exports to Russia increased sharply

Published 2021년 12월 31일

Tridge summary

Vietnam's seafood exports to Russia reached nearly 150 million USD in the first eleven months of 2021, marking a 27% increase from the previous year. The exports of main products to Russia, including pangasius, tuna, squid, octopus, and other marine fish, all experienced significant growth. Pangasius exports saw an 83% increase, while shrimp exports reached nearly 41 million USD, accounting for over 27% of seafood exports to Russia. Other marine fish accounted for the highest proportion, over 63 million USD. However, Vietnam's seafood market share in Russia's total imports increased slowly due to strict non-tariff barriers introduced by Russia, with only 50 out of 172 Vietnamese enterprises licensed to export seafood to the Russian market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Association of Seafood Exporters and Producers (VASEP), by the end of November, Vietnam's seafood exports to Russia reached nearly 150 million USD, up 27% over the same period in 2020. Exports of main products to Russia all increased, of which pangasius exports increased by 83%, tuna, squid and octopus exports all increased by 63%, and other marine fish exports increased by 19%. Although Russia accounts for less than 2% of Vietnam's total seafood export turnover, the recovery of exports to this market is a good sign in a year of turmoil because of the COVID-19 epidemic. The Russian market itself has been suffering from an oversupply of seafood since the end of 2020, when the COVID-19 pandemic made China tighten its seafood imports from Russia. With a turnover of nearly 30 million USD in 11 months, pangasius accounted for 19% of total seafood exports to this market. In early 2021, Russia approved 25 more Vietnamese enterprises to be allowed to export to this ...

Source: Vietnambiz