Export of squid and octopus to Russia has increased sharply since early this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the first three months of this year, the export value of squid and octopus from Viet Nam to Russia reached US$1 million, up nearly 9-fold against the same period last year.

The VASEP said Russia is one of the nine largest export markets for Vietnamese squid and octopus, with impressive export growth recently.

Russia has imported a large volume of Vietnamese fresh, frozen and salted octopus, accounting for more than 90 per cent of Viet Nam’s total octopus export value.

This year, Viet Nam is boosting exports of these products to Russia to regain its market share from competititors from China, Peru, Belarus and Thailand.

In 2016, Viet Nam was the third largest supplier of squid and octopus to Russia. However, in 2017, the exports dropped due to stiff competition from the big rivals. — VNS