(vasep.com.vn) In the period of 2011 - 2012, Vietnam cephalopod exports to Russia saw ebbs and flows and export price of Vietnam was lower than other suppliers to Russia.
Cephalopod exports to the market in the first two quarters of this year continued to fell 41 – 67 percent year-on-year. Some domestic exporters shifted to export fried finfish instead of cephalopod.
In June 2013, Vietnam cephalopod export value to the market recovered with the growth of 65.3 percent. In QIII/2013, exports of the item to the market continued to post a three-digit growth of 120-966 percent year-on-year. Through October 2013, among top 10 largest importers of Vietnam cephalopod, Russia reported the highest surge of 34.5 year-on-year.
In the period of 2008 – 2012, cephalopod imports into Russia showed annual growth of 1 percent in volume and the growth of 3 percent in value was for period of 2011 – 2012. In which, import value from China and Vietnam rose 7 and 23 percent, respectively.
After Russia's WTO (World Trade Organization) entry in August 2012, the country is in process of reducing import duty and removing some non-tariff barriers for goods imported from WTO members. Accordingly, duty imposed on agricultural products imported into Russia was reduced to 10.8 percent in 2013 from 13.2 percent in 2011.
Russia will apply Generalized Preferential System of Customs Union for developing countries including Vietnam. Accordingly, Vietnam seafood exporters in the next 3 years, will pay import duty which is 4.8 times lower than current level.
Vietnam cephalopod exporters to Russia are subjecting to duty rate of 8.4 percent like China, ASEAN. However, seafood exports to Russia will enjoy more favorable conditions in upcoming years.