Vietnam Pangasius exports to Russia passed a year of slump

 According to preliminary statistics by the Russian Federation statistical agency (Rosstat), in the first 10 months of 2015, seafood imports into Russia decreased by 39% to 452,600 tons. In which, imports of fresh and chilled fish plummeted 70.2% to 23,400 tons, crustaceans and shellfish imports dropped 50.3% to 37,500 tons. Imports of frozen fish fell 35.5% to 244,100 tonnes. Fish fillets and other fish meat imports  decreased by 37.6% to 56,600 tons. Ready to eat and canned fish shipments decreased by 31% to 72,800 tons.

Frozen fish still make up the majority with 53.9% of the total volume of Russia's seafood imports. The second is ready to eat and canned fish (16.1%), followed by white meat fish fillets (12.5%), crustaceans and shellfish (8.3%), fresh and chilled fish (5.2%).

In Russian market, in the late months of 2014  and first quarter of 2015, Vietnam's frozen pangasius seemed to be more consumed than China frozen tilapia products thanks to lower import price by 1-1.2 USD/kilo. However, the devaluation of Russian ruble against the dollar is an obstacle. Besides, consumption declined about 30%. The volume of seafood imports into Russia declined from 15-30% in many months of 2015 compared with the same period a year ago.

According to the statistics of the ITC, in 2015, not only Vietnam pangasius experienced a decrease in imports, but also other fish as frozen tilapia from China faced the same situation with drop of 38%; frozen Hake falling 42-43%; Alaska Pollack fillets got 60.4% reduction, Alaska Pollack frozen fish meat also fell 60.4% compared to the prior year. Proactively reducing the imports, increasing pollock exports is advocated by Russia in the past year.

Russia's instable market for years for Vietnam pangasius products. Vietnam pangasius exports to the market is forecasted to keep falling in 2016.