At the recent meeting between NOAA head Jane Lubchenco and Maria Daminaki, the European commissioner for fisheries, the US raised the issue of pollock tariffs, that would fall on both Alaska pollock blocks and surimi.
Current regulations call for a tariff of 13.7% on pollock blocks, and 14.2% on surimi. For many years those tariffs have been suspended if the block or surimi products are used for subsequent manufacturing of additional value added product.
It is unclear where the push is coming from to do away with the exemption, putting the tariffs into force. It could be a bureaucratic issue within the EU Commission, or as some have suggested harvester groups could be behind the change. But no European harvesters land fish that compete directly with Alaska pollock.
Such an outcome would have a severe impact on major seafood manufacturers in Europe, at a time when they are already struggling with higher import prices and declining demand. French demand for pollock products is expected to be flat. In the UK, Tesco reported today a 1.4% drop in sales, and a 4% drop on the continent, and is struggling to lower pricing.
Since the beginning of the year, the euro has declined around 4% against the dollar, and further declines are likely.
In this environment, manufacturers are in no condition to absorb a 13% to 14% tariff.
According to a US pollock industry source, "we are aware that as part of the EU Common Fisheries Policy review that drafts are being floated that could propose higher effective tariff rates. No specific policy proposal has been released by the EU though, so we dont know how serious this issue might be."
"Our primary interest is in Alaska pollock, Pacific whiting or surimi-based products. We are not aware of anyone who might benefit increasing effective tariff rates on those products. First and foremost, the products we export to Europe dont compete with any products made from fish harvested by EU fleets. Second, higher tariff rates would hurt European value-added processors and their workers as pollock products undergo a substantial amount of further processing within Europe. Finally, increased tariff rates would raise costs for European consumers."
The US industry and government is gearing up to fight this economically dangerous move. However, under current WTO agreements, the EU has the right to adjust pollock tariffs, so there is not a legal issue. Instead, the argument will be an economic one: why hurt seafood manufacturing at a time when they need to create as many jobs as possible.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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