By the end of August, Vietnamese seafood exports to Russia reached over USD 94 million, down 20% due to the on-going tension between Russia and Ukraine since late February, leaving the delay in sales of Vietnamese seafood in March and April. However, seafood exports to Russia are showing positive signs.
According to VASEP, seafood exports to Russia decreased by 86% and 46% in March and April due to challenges in shipping and international payment. However, seafood exports to Russia have recovered since May, increased by 36% in July, and skyrocketed by 98% in August as compared to the same period last year.
Pangasius was highlighted with nearly USD 21 million in the first eight months of the year, accounting for 22% of the seafood exports value to Russia, down 12% from the same period last year.
While seafood exports to Russia slumped due to the interruption of the early strike between Russia and Ukraine, a positive growth in sales of yellowstripe, tuna and anchovy was recorded.
Meanwhile, tuna exports accounted for 17% and reached nearly USD 16 million, up 97%; yellowstripe exports reached USD 14.6 million, up 6% and accounting for 17%; anchovy exports increased by 27%, reaching USD 4.6 million.
Exports of white leg shrimp and surimi fish balls dropped sharply by over 50% as compared to the same period last year. Sales of white leg shrimps reached over USD 16 million, accounting for 17% while sales of surimi reached over USD 12 million, accounting for 13%.
There were 39 Vietnamese enterprises exporting seafood to Russia in the first eight months of the year. Nam Viet JSC company accounted for the most density, 13%, with pangasius as their strength.
Another six businesses are entitled to sell seafood to Russia in 2022, leaving the total seafood exporters to this market up to 54.
Vietnamese Commercial Counselor to Russia Dương Hoàng Minh said that Russia was a stable market with various partners and their exports to the world didn’t stop rising. Russia’s trade surplus reached about USD 70 billion in 2021 and it is predicted to be bigger this year. Payment for products landed in Russia is no longer difficult and the market is really potential.
In Minh’s opinion, shipping from Vietnam to Russia has been facilitated. Russia’s transportation group has just launched the route Hồ Chí Minh – Hải Phòng – Vladivostok and some other new routes have been deployed by other firms, enabling the shipping to be faster. Besides, rail transport also provides good support to trading activities with Russia.
With lots of positive signs, seafood exports to Russia will continue to recover in the last months of the year. VASEP anticipated that a 16% increase might be recorded in sales of Vietnamese seafood in Russia, with USD 190 million worth.