Exports of cuttlefish and octopus to Russia skyrocketed by 889% to US$1 million in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Among top nine importers of Vietnamese cuttlefish and octopus, Russia has seen impressive growth recently. Currently, the country imports a large quantity of Vietnamese fresh, frozen and dried octopus, which account for more than 90% of Vietnam’s total export value. Meanwhile, fresh and frozen cuttlefish have also found way to the market.
According to Trademap statistics, Russia’s imports of cuttlefish and octopus in the period between 2015 and 2017 were unstable. However, the country has tended to increase its imports since 2017.
Vietnam ranked third among suppliers of cuttlefish and octopus to Russia in 2016, but one year later the country was losing market shares to major rivals such as China, Peru, Belarus and Thailand.
Therefore, Vietnam expects to rebound cuttlefish and octopus exports to Russia this year.VOV