September 14, 2022


Vietnam's seafood exports to Russia steadily recovering



The Vietnam Association of Seafood Exporters and Producers (VASEP) said as of the end of August 2022, Vietnam's seafood exports to Russia reached more than US$94 million, 20% lower because the Russia-Ukraine conflict has delayed Vietnam's seafood exports in the months of March and April, but there are encouraging signs regarding seafood exports to Russia, Fish Information & Services reported.


Due to backed-up traffic and challenging trade payments, seafood exports to Russia fell by 86% and 46%, respectively, in March and April. However, beginning in May, Russia's seafood exports began to slowly recover. Then, starting in July, the trend changed, with exports rising by 36% and then sharply by 98% in August.


Despite a 12% decline from the same period last year, pangasius remains the most exported product, accounting for 22% of seafood exports to the Russian market with nearly US$21 million in the first eight months of this year. which comprised 75% or so of frozen pangasius fillets, 14% or so of whole pangasius, and 11% or so of sliced pangasius.


Because of the Russia-Ukraine conflict, fewer seafood products were exported to Russia, but Yellowstripe scad, tuna, and anchovies continued to see growth in this market. The exports of tuna, which made up 17% of the total and increased by 97% to almost US$16 million, Yellowstripe scad, which made up 15% of the total and increased by 6% to US$14.6 million, and anchovies, which increased by 27% to US$4.6 million.


White leg shrimp, fish cakes, and surimi exports all fell by more than 50% from the same time last year. Whiteleg shrimp exports totaled over US$16 million, or 17% of the total, and surimi fish cake exports totaled over US$12 million, or 13% of the total.


There were 39 Vietnamese businesses exporting seafood to Russia in the first eight months of 2022. With pangasius as its primary product, Nam Viet Corp. accounted for the largest share of that, at 13%. Sai Gon Food Import Export JSC came in second place with 20%, followed by Hai Vuong Company Limited with 20%, Anh Long Food Co Ltd with 8%, and Minh Phu Seafood Corp with 7%. There will be 54 businesses authorised to export to Russia by 2022 after the approval of six additional businesses.


Duong Hoang Minh, Vietnam's Trade Counsellor in Russia, said that shipping goods from Vietnam to Russia is now more practical. Several other shipping lines are currently operating new routes, making travel faster and shorter. The Russian shipping group has opened a direct route from Ho Chi Minh City to Hai Phong to Vladivostok. A rail transportation network is also present to support business with Russia.


Seafood exports to the Russian market will continue to improve in the remaining months of this year, according to many encouraging signs. According to projections, Vietnam will export more than US$190 million worth of seafood to Russia in 2022, representing a 16% increase.


-      Fish Information & Services

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