According to Vietnam Association of Seafood Exporters and Producers (VASEP), in 2023, Russian pollock exports reached about 880,000 tons, worth 1.2 billion USD, an increase of 13% in quantity, a decrease of 5% in value. Pollock is loved and consumed in many parts of the world and is main competitor of Tra fish because it is exploited naturally and is as cheap as farmed Tra fish.
At the end of December 2022, the US extended the ban on Russian seafood for 2 years, aiming to prevent and eliminate Russian salmon, cod, crab and pollock products from the US market, even when those products are processed in a third country, changing origin country of the product. This is a drastic move by the US in the face of the Russia-Ukraine conflict. By the end of November 2023, the US had imported 28 thousand tons of Pollock with a worth of 100 million USD, mainly Russian Alaska pollock being processed in China.
Along with the US, Europe also made the same moves with Russian pollock. Accordingly, in November 2023, EU decided to impose a tax of 13.7% on products from Russia such as pollock fillets and cod (a type of seafood that competes directly with Vietnam’s Tra fish), including products are processed in China but originated from Russia. Previously, these products all enjoyed 0% tax incentives in the EU. Imposition of this tax makes it more difficult for Russian pollock products to compete in the market. In the context that demand for white fish in the EU is very high and Vietnam’s Tra fish is expected to fill a gap in a diet of people in European region.
“Giant markets like the US or EU are gradually turning their backs on Russian pollock. Therefore, when sanctions were applied en masse and tightened for this product, there was a serious shortage of supply to the market while consumer demand did not decrease. This is an opportunity for Vietnam’s Tra fish exports to replace wild-caught pollock", VASEP acknowledged.

Source: Vitic/ congthuong.vn