The US Department of Commerce (DOC) has announced the preliminary results of the 17th period of review (POR17) for the period from August 1, 2019 to July 31, 2020, regarding Vietnam’s tra and basa fish (pangasius) exported to the US.
Accordingly, 28 out of the 63 businesses initially subject to the review would not be examined for various reasons.
Among the remaining 35 companies, Nha Trang Seafood Joint Stock Company (NTSF) and Bien Dong (East Sea) Seafood Joint Stock Company (ESS) are requested to answer the survey questionnaire.
The DOC determined that Green Farms Seafood Joint Stock Company (Green Farms) is eligible for a separate tax rate.
According to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade (MoIT), the DOC preliminarily determined that NTSF did not make sales of subject merchandise at prices below normal value during the period of review so it will not be subject to anti-dumping tax.
The tax rate on ESS's products is set at 3.87 USD per kg because the DOC believed that the company had not fully cooperated with the DOC, while the Green Farms Company was levied a tax rate of 1.94 USD per kg.
The remaining companies among the 35 reviewed companies continue to be taxed at 2.39 USD per kg as in the previous years.
Big Vietnamese exporters, including Vinh Hoan JSC and Nam Viet Joint Stock Company and NTSF, are not subject to the anti-dumping tariff.
The DOC announced that the interested parties may submit ideas or request a hearing within 30 days from the date of publication of the preliminary results. A final conclusion is expected to be issued by the DOC in January 2022.
The MoIT will continue to coordinate with the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnamese exporters and the US side to deal with relevant issues to ensure legitimate rights and interests of Vietnam in this regard.
Vietnamese tra fish have been subject to US anti-dumping duties since 2003 and the tariffs have been reviewed annually since then.
Statistics from the General Department of Customs showed that last year Vietnam's pangasius and basa fish exports to the US reached 83,159 tonnes, raking in about 228.79 million USD.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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