On the same day as the hearing before the International Trade Commission on whether the
The final rates are:
Sociedad Nacional e Galapogos 10.13%
Promarisco 13.51%
All Others 11.68%
In the preliminary phase,
Devi Fisheries 6.16%
Devi Seafood 5.54%
All others 5.85%
All others 54.5%
Minh Qui 7.88%
Nha Trang 1.15%
All Others 4.52%
Here is a link to the final Dept. of Commerce ruling.
The duty rates could be retroactive to when the preliminary rates were published around the beginning of June. However, the Dept of Commerce could also make a different determination.
The rates for
At the ITC hearing today, which runs on a separate track, the exclusion of Thailand and Indonesia, which were the number 1 and 3 suppliers to the US in the period from 2010-2012, blows a big hole in the entire countervailing duty case, according to lawyers for the respondents.
The reason is that when all seven countries were involved, they represented 70% to 75% of total shrimp imports to the
With the final Dept. of Commerce ruling, the ITC final determination of injury will become critical. They are due to make a final decision on Sept. 19th, when they will vote. If they determine no injury to domestic producers was caused by imports, the all CVD duties on shrimp are rescinded.
At the hearing today, there was skepticism voiced by some of the commissioners as to whether injury actually occurred.
We will have a full analysis of the hearing in a separate article.
For now, given the current situation of the leading producing countries, this is a huge blow to the
(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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