Opportunities for Vietnamese pangasius: The 'flow' of white fish before US and EU sanctions

Published 2022년 6월 17일

Tridge summary

The Russia-Ukraine conflict has led to changes in global trade, with the US and Western countries imposing tariffs on many Russian economic sectors, potentially impacting white fish products. The European Union (EU) is considering sanctions on Russian white fish, which could affect the bloc's main imports. Russia is a leading global catcher of pollock and cod, with Alaska pollock being its main commercial resource. The EU relies heavily on these imports for its seafood industry. If tariffs are imposed, consumers and importers will be affected, leading to price increases. Vietnam's pangasius industry may benefit from this situation due to its price advantage over tilapia or other white fish imported from China. The UK is also expected to start imposing tariffs on Russian white fish from June. The domino effect of US sanctions and increased sea freight prices may affect Moscow's exports, providing opportunities for Vietnamese pangasius enterprises to expand in the EU, Korea, and Japan.

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

Original content

World trade is changing after the Russia-Ukraine conflict when the US and Western countries impose tariffs on many economic sectors of Russia. Moscow's white fish products, including cod and pollock, are under pressure to receive sanctions from the European Union (EU), although this is one of the main imports of the countries in the bloc. Ta Ha, a market expert for pangasius products from the Vietnam Association of Seafood Exporters and Producers (VASEP), said that Russia ranks first in global pollock catch and second in cod (Northern Atlantic Ocean). Ocean, Pacific Ocean and Black Dot). In which, Alaska pollock is Russia's main commercial resource, accounting for 35% of total exports. Compared to the US, the EU seafood market depends more on white fish products imported from Russia because this is an important raw material group with the largest import proportion, accounting for 95% in the meat fish processing industry. EU white. VASEP quoted information from Undercurrentnews, in ...

Source: CafeF