VASEP deputy chairman Nguyen Huu Dung claims this scheme would be beneficial to exporters.
Why is VASEP considered a pangasius floor export price?
The US Department of Commerce recently delivered the final results of the eight administrative review for anti-dumping duties on
Since the decision is unreasonable, Vietnamese firms are handling legal procedures, trying to bring a case to US Court of International Trade.
This case, however, provides an opportunity to hike pangasius export prices in the
For example, current pangasius export fetches $4 per kg. The anti-dumping duty most firms exporting pangasius to
VASEP mulled the same move in the past but it had proven ineffective due to the hustle-bustle in the market place to secure export contracts. Would you sure this will not be repeated?
Competition is inevitable in doing business. At present, seafood firms particularly pangasius exporters, are competing in pricing. VASEP wants businesses vying for quality but not in pricing and setting floor export price is one of the measures.
In the past, VASEP several times introduced floor export price schemes which were supported by firms. However, it then failed due to lack of state support during enforcement as well as regulated sanction measures.
The floor export price scheme for pangasius export would only be valid with the support from the Ministry of Agriculture and Rural Development (MARD). For example, the MARD sends a document to the customs sector, requiring it not to approve export shipments of pangasius having export price lower than the floor price.
Will this impinge on existing Vietnamese laws as well as international business practices?
This is also a MARD concern. I am sure that this is compliant with Vietnamese law and does not affect
Under the current law, if the state supported firms to pull down prices, it might be involved in anti-subsidy lawsuit whereas in this case, the state helps firms drive up prices, so its support does not violate the law.
The floor export price scheme could work when there was effective cooperation between the business community and relevant state agencies, including the MARD and Ministry of Finance.
Pangasius export saw constant declines in the first quarter, particularly it slid 13 per cent alone in March. What are VASEP’s measures to hike the pangasius export value?
Pangasius incurring high anti-dumping duties in the
In respect to pangasius, its added value in 2012 was 0.68 per cent merely, showing there is huge room to boost pangasius added value. Pangasius export value could soar if we shifted 20-30 per cent of current raw export volume into export of added value products.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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