The New York Times is reporting that 10 nations in the region have complained to U.S. trade representatives that the program violates international law. The communication comes as the nations are working on negotiating a new Asia-Pacific trade deal with the United States.
According to the Times, the letter does not contain threats of any kind, but did indicate the dispute over the program is a roadblock to the negotiations.
The program, spelled out in a set of regulations that govern food production in the United States known as the Farm Bill, mandates that all catfish imports must be inspected by the United States Department of Agriculture (USDA).
The mandate, first introduced to the bill in 2008, is a break from the traditional arrangement that requires all imported seafood be inspected by the Food and Drug Administration (FDA). Converting to the new mandate has been expensive; critics estimate it has already cost American taxpayers USD 20 million, prompting protests from financial watchdog groups, the Obama Administration, the Government Accountability Office and high-profile politicians including U.S. Sen. John McCain, R-Ariz. Despite the protests, the U.S. catfish industry and Sen. Thad Cochrane, R-Miss., managed to keep the new mandate alive, even weathering an effort last year to quash the USDA inspection program.
Now, Gavin Gibbons, spokesman for the National Fisheries Institute, said the program is putting even non-seafood industries at risk.
"This latest development shows how serious this issue is," Gibbons told SeafoodSource. "A special interest handout to a few southern states has grown into one of the most reviled programs on Capitol Hill. And now, the Times finds, it’s jeopardizing a major American trade initiative. It’s not catfish producers who are going to be burned by this; it’s pork, beef, corn and soy exporters. As predicted, U.S. agriculture is the collateral damage from this boondoggle."
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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