Vietnamese pangasius, also known as basa, appears to be emerging as one of the front-runners to replace Russian whitefish for frozen food giant Nomad Foods as it looks to reduce its reliance on supplies from the eastern European nation following its invasion of Ukraine in February.

"We have increased purchases outside of Russia, we have gone to other species and also, importantly, we are starting to reduce our reliance by going with farmed fish," Nomad Foods CEO Stefan Descheemaeker told analysts during the company's second quarter earnings call on Wednesday.