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Europe, Japan, the United States and South Korea are major buyers of Russian seafood , while China is a reprocessing country for Russian seafood, which is exported around the world
.
.
In response to Russia's actions against Ukraine, many countries in the world, including the United States, the European Union, the United Kingdom, etc.
, have strongly condemned and imposed sanctions on Russia, which will have a significant impact on the supply and demand of seafood and world trade
.
, have strongly condemned and imposed sanctions on Russia, which will have a significant impact on the supply and demand of seafood and world trade
.
After Russia was restricted from using the SWIFT system, trade between seafood importers from various countries and Russia was interrupted.
Within Russia, about 70% of remittances use the SWIFT system.
However, importers from various countries can still communicate with Russia through private banks or smaller banks.
Exporters conduct transactions
.
Within Russia, about 70% of remittances use the SWIFT system.
However, importers from various countries can still communicate with Russia through private banks or smaller banks.
Exporters conduct transactions
.
Spain has imposed sanctions on Russia, including halting all import and export trade, banning Russian fishing vessels from docking at ports in Spain and other EU member states, and preventing Russia from participating in the 2022 Global Seafood Expo in Barcelona
.
.
On March 11, U.
S.
President Joe Biden announced that he would sign a decree banning the import of Russian seafood and canceling most-favored-nation status for Russia
.
S.
President Joe Biden announced that he would sign a decree banning the import of Russian seafood and canceling most-favored-nation status for Russia
.
The British government recently imposed a trade embargo on Russia, while adding new import duties of 35% on hundreds of major Russian products, including Russian whitefish
.
.
In addition to concerns about sanctions, the biggest concern is that retailers will follow public opinion and boycott products from Russia.
After the Russian-Ukrainian conflict, several major US seafood restaurant chains have stopped sourcing from Russia, and UK retail supermarkets are gradually adding some Russian products.
Fish products are off shelves, including frozen cod, frozen pink salmon and fresh cod loin products
.
After the Russian-Ukrainian conflict, several major US seafood restaurant chains have stopped sourcing from Russia, and UK retail supermarkets are gradually adding some Russian products.
Fish products are off shelves, including frozen cod, frozen pink salmon and fresh cod loin products
.
The conflict has also led to more instability in the world’s seafood supply chains, with overnight surges in fuel prices leading to a sharp increase in input costs for seafood production and export, especially for the extraction of seafood
.
Ukraine is a major food supplier to the world, and the aquaculture feed market is also at risk of commodity shortages and rising prices
.
.
Ukraine is a major food supplier to the world, and the aquaculture feed market is also at risk of commodity shortages and rising prices
.
In 2021, the export value of Vietnamese seafood to Russia was US$164 million, a year-on-year increase of 21%.
Vietnamese seafood accounted for 2% of the Russian market, mainly shrimp, catfish, surimi, tuna, yellowtail and anchovies
.
Vietnamese seafood accounted for 2% of the Russian market, mainly shrimp, catfish, surimi, tuna, yellowtail and anchovies
.
If there is no conflict, there are still many opportunities for Vietnamese seafood to expand in the Russian market, but now the export trade to Russia is stagnant, many goods destined for Russia are forced to return, the risk of bank payment increases, transactions are delayed or forced to stop, transportation The increase in cost further aggravates the export pressure of Vietnamese seafood to Russia.
Exporters are suffering from the inability to obtain export containers.
Even if there are empty containers, they will also worry about the cancellation of transportation
.
Exporters are suffering from the inability to obtain export containers.
Even if there are empty containers, they will also worry about the cancellation of transportation
.
In the first two months of this year, Vietnam’s seafood exports were worth US$1.
5 billion, a year-on-year increase of 51%, of which exports to Russia were US$25.
4 million, a year-on-year increase of 17%
.
Vietnam's seafood exports increased by 2-3 digits in February, but exports to Russia fell by 3%
.
5 billion, a year-on-year increase of 51%, of which exports to Russia were US$25.
4 million, a year-on-year increase of 17%
.
Vietnam's seafood exports increased by 2-3 digits in February, but exports to Russia fell by 3%
.
Vietnamese whitefish exporters seem to see market opportunities, especially the sanctions imposed by Western countries on Russia, which may be beneficial to the export of Vietnamese seafood to the United States, the European Union, etc.
Although Vietnamese catfish cannot completely replace Russian pollock and cod for the time being
.
Although Vietnamese catfish cannot completely replace Russian pollock and cod for the time being
.
