According to data from the International Trade Centre (ITC), since 2012, Vietnam has consistently been the second-largest supplier of whitefish to Russia, following Argentina.

By the end of February 2022, Vietnamese seafood in Russia, including pangasius (tra fish), faced stronger competition from other suppliers such as China, India, and Bangladesh as these countries increased trade activities. This was due to the impacts of the Russia-Ukraine conflict on global transportation and commercial payment processes. Given that China shares a border with Russia, it is understandable that Russia would rely more on this supplier rather than others whose products pass through sea routes affected by the conflict.

However, two years after the Russia-Ukraine conflict began, despite implementing policies to increase exports and reduce imports, Vietnam remains the top supplier of pangasius to Russia. According to Vietnamese customs data, in May 2024, Vietnam's pangasius exports to Russia were 6.5 times higher than in May 2023. By the end of May 2024, the cumulative pangasius exports from Vietnam to Russia reached over USD 8 million, a 35% increase compared to the same period last year.

Unlike other markets, Russia almost exclusively imports dried pangasius and other frozen products, as well as frozen pangasius fillets from Vietnam, rather than value-added pangasius products.

Exports of dried pangasius and other frozen products (HS code 03, excluding pangasius with HS code 0304) to Russia in the first five months of this year saw a 77% increase compared to the same period last year. However, demand for these products in Russia has been unstable, fluctuating continuously. For example, in May 2024, there was an 8.5-fold increase compared to May 2023 and a threefold increase compared to the previous month, whereas April 2024 saw a 35% decrease compared to April 2023.

Frozen pangasius fillet remains the main product exported from Vietnam to Russia, accounting for 80% of the total export volume in the first five months of this year. In May 2024, frozen pangasius fillet exports to this market reached over USD 2 million, a 6.5-fold increase compared to May last year. This is also the highest value for frozen pangasius fillet exports to Russia since the beginning of this year.

The top five Vietnamese enterprises exporting pangasius to Russia include: Que Ky, Nam Viet, Hung Ca, Tran Han, and Van Y, with the main products being: frozen pangasius fillet (HS code 03046200), whole frozen butterfly-cut pangasius (HS code 03032400), and frozen pangasius fillet pieces (HS code 03046200), among others.

Cumulatively, in the first five months from 2021 to 2024, Vietnam's pangasius exports to Russia decreased from USD 17 million in the first five months of 2021 to USD 8 million in the first five months of this year. The war has significantly impacted the export activities of pangasius to this market. However, compared to the same period last year, Vietnam's pangasius exports to Russia in the first five months of this year have shown positive signs of recovery.

President Vladimir Putin made a state visit to Vietnam in late June, coinciding with the 30th anniversary of the signing of the Treaty on Basic Principles of Friendly Relations between Vietnam and the Russian Federation. This event is significant, deepening the Vietnam-Russia Comprehensive Strategic Partnership across all fields and elevating it in the new context. It also opens new opportunities for trade and exports, including pangasius exports to Russia.

VASEP