Market overview
Over the past two years, Russian consumption of fish and seafood has dropped, primarily due to the country’s fluctuating economic state. Historically, however, the market has been durable.
Over the past decade, Russia has been among the 20 top seafood importers around the globe. In 2014, for example, the United States Department of Agriculture (USDA), reported that Russia imported 885,000 tons of seafood and fish products valued at US$2.9 billion.
When broken down into product categories, USDA figures showed Russian imports split as follows: 50% frozen fish; 14.6% ready to eat/canned fish products; 14.2% fish fillets and other fish fare; 10% crustaceans and molluscs and 9.7% fresh and chilled fish.
Average consumption of fish and seafood in Russia over the past two decades stood at around 22 kilograms per capita per annum, according to the USDA.
Where does Russia get its fish and seafood?
Prior to the 2014 embargo, Norway had been the leading supplier to Russia of fish and seafood products, with a 19% market share. China followed with a 14% share and Chile came third with a 13.5% slice of the market.
However, Russia in now actively looking for new sources of fish and seafood because of the ban on imports from Norway and disease having taken a huge toll on the salmon industry of Chile.
Over the past year, Peru, Argentina and Ecuador as well as several other South American countries have increased their consignments of fish and seafood to the Russian market.
South Africa, has also once again started shipping fish and seafood products to the Russian market. Sea-Harvest, based out of South Africa, for example, has revealed that it has shipped around 500 tons of seafood products, valued at around US$3.5 million, recently.
The Faroe Islands has boosted its Russian fish exports nearly twofold. Deliveries from the small island nation totalled 20,000 tons in 2015. Given that previous shipments of Norway stood at roughly 60,000 tons, the accomplishment of the Faroe Islands is noteworthy.
Southeast Asia is also very much a focus for Russian importers, says Vasep. Local producers have expanded operations and signed contracts with Rosselkhoznadzor, the Russian body responsible for overseeing the quality of food imports, to increase delivery levels.
What fish and seafood are in high demand?
Salmon is the most popular seafood product among Russian consumers. Prior to the food bans being enacted, Norwegian producers had been shipping roughly US$533 million of salmon to Russia each year.
There remains a healthy demand for other species including trout, herring, shrimp and prawns, mussels etc. Whole Atlantic mackerel has also seen an increase in demand as the sanctions remain in place.
Per Vasep, local producers have been increasing their supplies of pangasius catfish to Russia.
The country’s largest pangasius catfish producer, Hung Vuong, has also announced it will be moving some of its operations into Russia through the acquisition of a 51% stake of Russian Fish Joint Stock Company.
The move, says Hung Vuong, is aimed at gaining market share and improving levels and quality of Alaskan Pollock in Russia.
Meanwhile a free trade agreement between Vietnam and Eurasian Economic Union (EAEU) that came into effect October 5, 2016 is expected to aid local companies in competing in the Russian market through the removal of tariffs (currently at 5.63%) and other trade barriers.
The EAEU comprises the five countries of Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Fish and seafood exports to the EAEU reached US$51.87 million (including Russian exports of US$51.55 million) for the eight months leading up to September of 2016.
The local fish and seafood industry is now hoping to catch a large share of the Russian market over the next few years, says Vasep, though admittedly the challenges in accomplishing that task are daunting.
Source: VOV
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
(vasep.com.vn) The Global Shrimp Forum (GSF) 2026 is taking place from September 1–3 in Utrecht, the Netherlands, bringing together around 585 delegates from 40 countries, representing approximately 300 companies and organizations across the shrimp supply chain. Representatives from VASEP are attending the event as part of the Vietnamese delegation, strengthening connections with partners across the global shrimp industry.
(vasep.com.vn) At the international B2B seminar (Hosted Buyer Program) held as part of Vietfish 2026, Mr. Nguyen Hoang Pham, Sales Director of Tai Kim Anh Seafood Processing Joint Stock Company, delivered a presentation entitled “Vietnam’s Shrimp Industry: Changing for Sustainability.” From the perspective of a seafood processor, the presentation highlighted that Vietnam’s shrimp industry continues to play a leading role in seafood exports, but is entering a new phase of competition in which change is no longer an option, but a prerequisite for growth.
(seafood.vasep.com.vn) VIETFISH 2026 may have concluded after three dynamic days in Ho Chi Minh City, but conversations around the exhibition continue to resonate across international trade media, industry organizations, and the social media channels of participating companies.
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