Vietnam

Russia is increasing octopus imports from Vietnam at a fast pace

Fish & Seafood

For the first three months of this year, the growth in cephalopod imports stands at 889%.

Posted on Jun 19 ,14:28

Since the beginning of this year, Russia has entered the top 9 leading buyers of Vietnam cephalopod, informs Vietnam Association of Seafood Exporters and Producers.
The product exports to Russia registered an increase of 889% in the first quarter of the year compared to the same period of 2017. The value of cephalopod items shipped to Russia was over $1 million, compared to $102,304 resulted from the octopus exports in the first quarter of 2017.
The export value of this product to Russia accounted for more than 90% of total export value. This year Vietnam promotes shipments of this product group to Russia. In addition, Vietnam also boosts fresh/frozen squid products to this market.
According to the statistics of Trademap, Russia's cephalopod imports in the last 3 years from 2015 to 2017 were unstable. However, in 2017, Russia tended to increase imports of this item.
A recent report by the Federal Customs Service of Russia shows that, in 2017, imports of frozen/dried/salted squid accounted for 58% of the country's total mollusc imports; followed by processed squid with 41% of the total import value. Last year, Vietnam octopus exporters had to compete with companies from China, Peru, Belarus and Thailand for this market.

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