Pangasius

Many Vietnamese seafood exporters are not subject to US anti-dumping tariffs
08:44 09/16/2021

(seafood.vasep.com.vn) Vietnam pangasius exporters have recorded positive growth in the first half of the year, but the last 6 months of the year will be a difficult journey.

(seafood.vasep.com.vn) Export revenue of Vinh Hoan Corp in June 2021 reached VND 713 billion, up 15%, of which the US market brought in nearly VND 300 billion, up 77%. Exports to the EU and China markets decreased due to the impact of the new strain of Covid-19 epidemic. Accumulated in the first 6 months, Vinh Hoan recorded export revenue of 3,991 billion dong, up 15.6% over the same period last year.

(seafood.vasep.com.vn) In June 2021, Vietnam's pangasius export value reached nearly 142.6 million USD, up 28.1%. By the end of June 2021, the total export value of pangasius reached 780.9 million USD, up 17% over the same period last year. This positive result brings optimism to Vietnamese pangasius exporters.

(seafood.vasep.com.vn) On June 28, 2021, the US Department of Commerce (DOC) announced the final results of the 16th anti-dumping tax administrative review (POR16) on products Frozen pangasius imported from Vietnam into the US market from August 1, 2018 to July 31, 2019. Accordingly, two Vietnamese pangasius exporters: Vinh Hoan Joint Stock Company (VINH HOAN CORP - Dong Thap) and Nam Viet Joint Stock Company (NAVICO - An Giang) have enjoyed the tax rate of 0%.

(seafood.vasep.com.vn) Navico Company is the second company that has invested in Collagen and Gelatin (C&G) factory in processing pangasius fillet. Previously, Vinh Hoan Company was quite successful with this project, which contributed 20% of profit and 10% of revenue to VHC.

By the end of May 2021, the total export value of Vietnamese pangasius reached 637.8 million USD, up 14.7% over the same period last year. In particular, in May 2021 alone, the export value of pangasius reached 148.4 million USD, up 39.3%. With more and more positive export results, pangasius processing and exporting enterprises in the Mekong Delta are trying their best to both ensure safety and prevent the COVID-19 epidemic, stabilize production and promote exports.

Exporters and VASEP association forecast that Vietnam pangasius exports will still grow well in the near future thanks to importing countries that are controlling the Covid epidemic well.

(seafood.vasep.com.vn) Since March 2021, pangasius exports to some major markets such as China - Hong Kong, the US, Thailand and Brazil have started to grow again, helping to increase the total value of pangasius exports in the first 4 months of this year increased by 8.9% over the same period last year, reaching 489.4 million USD.

(seafood.vasep.com.vn) As of April 15, 2021, the total value of Vietnam's pangasius exports to the Mexican market reached US$20.4 million, up 35% over the same period in 2020, accounting for 4.96 % of total pangasius export value. This is a large and potential export market of Vietnamese pangasius exporters for many years. However, in the past 3 years, the export value of pangasius to this market has decreased. Therefore, this growth of pangasius exports to the Mexican market in the current context is a good sign.

(seafood.vasep.com.vn) As of the first half of April 2021, the total export value of Vietnamese pangasius to the Russian market reached US$11.4 million, up 118.7% over the same period last year. After many years of exporting pangasius to this market with decline and interruption, at the beginning of this year, there have been many positive signals.

(seafood.vasep.com.vn) In the first three months of this year, Vientnam pangasius exports to the Russian market grew at a triple-digit rate compared to the same period last year. Exports to many major export markets have also begun to recover, notably in March 2021, the value of pangasius exports to China - Hong Kong market increased by 28% over the same period last year.

(seafood.vasep.com.vn) Despite the impact of COVID-19 epidemic, pangasius export in Dong Thap province has been stable. Up to now, the price of raw pangasius in Dong Thap province is from 21,000 to 21,500 VND/kg, an increase of more than 1,500 VND/kg over the same period in 2020.

(seafood.vasep.com.vn) The gradual recovery from two major export markets, the US and China - Hong Kong, is expected to pull the export value of Vietnamese pangasius in the coming months out of negative growth.

(vasep.com.vn) As of the first half of February 2021, the total value of pangasius exports to China - Hong Kong reached USD 13.55 million (accounting for 8.5% of the total pangasius export value), down by 38.6% compared to that of in the same period last year. In particular, the export value of pangasius to Hong Kong also decreased by 40.5%. Lower exports is reported due to Covid-19 tight controlling in China.


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