Vietnamese seafood exports to Russia continued to decline in March, according to the Deputy Director of VASEP.PRO Center

Seafood

Vietnam

Russia

Published Mar 31, 2022

Tridge summary

Transportation fees, which are already extremely high because of Covid-19, now add to the pressure of war in Ukraine, so even more pressure. In February alone, while all markets increased strongly by 2-3 figures, sales to Russia decreased by nearly 3% despite the conflict occurring on February 24.

Original content

According to a report by the Vietnam Association of Seafood Exporters and Producers (VASEP), the conflict in Ukraine affects many industries, including seafood. Russia accounts for about 2% of the total seafood export turnover of Vietnam. The main products include vannamei shrimp, pangasius, surimi, tuna, yellowtail, anchovies… In 2021, exports to Russia will reach 164 million USD, up 21% compared to 2020. Vietnam also accounts for 164 million USD. about 2% market share of seafood in Russia. According to Ms. Le Hang, Deputy Director of VASEP.PRO Center under VASEP, there is still room for the Russian market and the opportunity to increase exports to this market will be possible if the war does not happen. Ms. Le Hang said the conflict in Ukraine made many Vietnamese enterprises exporting to Moscow "stand still", many shipments to Russia were forced to turn around. Trade was delayed or had to be halted because of bank settlement risks. Finding alternative banks is not ...

Source: Vinanet