Import market for Frozen Tilapia in South Korea (6월, 2022)

The Russia-Ukraine conflict has led to changes in global trade, with the US and Western countries imposing tariffs on many Russian economic sectors, potentially impacting white fish products. The European Union (EU) is considering sanctions on Russian white fish, which could affect the bloc's main imports. Russia is a leading global catcher of pollock and cod, with Alaska pollock being its main commercial resource. The EU relies heavily on these imports for its seafood industry. If tariffs are imposed, consumers and importers will be affected, leading to price increases. Vietnam's pangasius industry may benefit from this situation due to its price advantage over tilapia or other white fish imported from China. The UK is also expected to start imposing tariffs on Russian white fish from June. The domino effect of US sanctions and increased sea freight prices may affect Moscow's exports, providing opportunities for Vietnamese pangasius enterprises to expand in the EU, Korea, and Japan.