Vietnamese seafood products exported to Russia include tuna, crab, swimming crab, frozen cephalopod, surimi and some other frozen marine fish (sturgeon, flounder, herring and frozen and chilled sardines), fish in the form of whole fish/fillet, mollusks in the form of live, fresh, chilled, frozen ...
Vietnam Free Trade Agreement - Eurasian Economic Union was signed on May 29 2015, and took effect from October 5, 2016. This is the first FTA of EAEU. In the EAEU, Vietnam mainly exports seafood to Russia while exports to other countries are not significant.
According to the commitment of EAEU to seafood imports from Vietnam, the rate of tax reduction is 100%, of which 95% of the tax rate is completely eliminated with a 10-year roadmap. 75% of the tax rate is eliminated immediately after the Agreement comes into effect.
According to EAEU's commitment to Vietnam's seafood products exported to this region, the products of tuna HS code 030487 get tax reduction from 10% to 0% immediately after the Agreement comes into effect, crab products ( HS 030614) reduced from 10% to 0%, surimi (HS 030499) decreased from 10% to 0%, processed cephalopod products (HS 160552, 160553, 160554, 160555, 160556) decreased from 15% to 0%, cephalopod products (HS 0307) decline according to the roadmap and down to about 1.7% in 2019. Seafood exports to the Russian market is still growing after this FTA takes effect. However, Vietnamese enterprises still expect a more stable market.
Russian fishing is declining while consumption demand tends to increase, especially for whole/fillets marine fish, fish processed into surimi. Therefore, this is also an opportunity for seafood export of Vietnam.
Seafood exports to Russia in the first 3 months of 2019 showed positive signs with a turnover of 14.9 million, up 19% compared to the same period in 2018.
In order to promote exports to Russia, enterprises need to focus on ensuring prestige and product quality in exports to this market, studying the connection with trade centers of overseas Vietnamese in Russia to enhance introduction and promote Vietnamese products directly to consumers.
Currently, seafood exports to Russia accounted for a very low market share, not commensurate with the export potential of Vietnam. Therefore, with the incentives from FTA VN-EAEU, it is expected that Vietnam seafood exports to Russia will maintain a stable growth rate.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
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