Five Vietnamese catfish exporters to Russia have reported a year-on-year drop in export value by 29.8 percent to $2.18 million in January, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP). This is a contrast to a 72.5 percent increase in exports value last year to the Russia. Vietnam was Russia's third biggest importer of catfish last year, behind Argentina and China. “Since the beginning of the year, and especially after Russia launched a special military operation in Ukraine, export of catfish to this market has faced disruptions and challenges,” VASEP said in a report. Catfish exporters say that the 30 percent plunge in the ruble has made buyers unwilling to pay for their orders. Payment processes have also become difficult as a result of Western nations' sanctions on Russia. Shipping has also become a challenge with transport firms not accepting orders to Russia, given the high chances of having the goods seized on the way. Vietnamese catfish exporters have stopped signing new orders to Russia even though importers still want to buy. Meanwhile, Vietnamese shrimp exporters have reported a year-on-year decline of 23 percent in Russia exports value to $3.3 million from January 1 to… Read full this story
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