This is good news for these two enterprises and also a positive signal for pangasius exports to the US market in the second half of 2021.
Other Vietnamese seafood enterprises (except those with separate tax rates) exporting pangasius to the US are subject to anti-dumping tax equal to the national tax rate of 2.39 USD/kg.
In addition, according to the inherited results from the POR15 review period, NTSF SEAFOODS (Can Tho) and CASEAMEX (Can Tho) enjoy the level of 0.15 USD/kg, BIEN DONG SEAFOOD (Can Tho) still enjoys 0.19 USD/kg.
With the anti-dumping tax results of this review period, Vietnamese pangasius enterprises have been able to relieve pressure in major markets, and at the same time reduce the load on other export markets that are still affected by the COVID crisis. -19. This is also a good condition to promote the volume of pangasius to the US in the near future.
Currently, there are more than 10 Vietnamese pangasius enterprises participating in exporting to the US market. In which, VINH HOAN, BIEN DONG SEAFOOD and NAVICO are the 3 enterprises with the largest export value. In the first 5 months of this year, pangasius exports of these companies reached USD 104 million, respectively; $46.8 million and $41.5 million.
Vietnam is the leading supplier of frozen pangasius to the US market, accounting for 90.5-95% of the country's total pangasius import value. By the end of May 2021, the total export value of Vietnamese pangasius to the US market reached 134.2 million USD, accounting for 21% of the total export value, up 55.3% over the same period last year. Currently, the US is the second largest pangasius export market of Vietnamese seafood enterprises (after China - Hong Kong).
(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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