According to the final results of the POR19 review, Vinh Hoan Joint Stock Company is entitled to a tax rate of 0.00 USD/kg. The other 5 enterprises are: CASEAMEX, LOC KIM CHI SEAFOOD JSC, I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION, HUNG VUONG PANGA and CAFATEX are subject to an anti-dumping tax of 0.18 USD/kg.
The general anti-dumping tax rate that DOC imposed on Vietnamese pangasius export enterprises during this review is 2.39 USD/kg.
Compared to the preliminary review results of POR 19, announced in September 2023, the final tax rate of POR 19 is 0.04 USD/kg higher. However, in general, the POR19 anti-dumping tax rate has been significantly reduced compared to the final results of the previous POR18 review. This is a quite positive signal for Vietnamese pangasius export enterprises in the near future.
In February 2024, Vietnamese pangasius exports to the US reached a value of nearly 16 million USD, down 8% compared to February 2023. Cumulative pangasius exports in the first 2 months of the year to this market reached 34 million USD, up 25% over the same period last year, mainly thanks to the strong growth of export turnover in the first month of this year. In January 2024, the US increased the value of pangasius imports from Vietnam by 83%.
In March 2023, the US Government announced Executive Order 14068 (EO 14068) to ban the import of aquatic products originating from Russia and tighten the ban on importing Russian pollock. However, this decree did not prohibit the import of products from third countries that use Russian seafood as raw materials for processing. Many forecasts say that this decree significantly affect the world seafood market, possibly re-establishing a new order for the global seafood industry. The suspension of imports of aquatic products from Russia creates a large gap, and this will be an opportunity for Vietnamese pangasius to replace two key products, pollock and cod.
In February 2024, Vinh Hoan continued to be the largest pangasius export enterprise to the US, accounting for 58% of the total export value of Vietnamese pangasius to the US. Followed by Van Duc Tien Giang Company, accounting for 22%; Bien Dong Seafood Company, accounting for 10%; Can Tho Seafood Import-Export Company, and Nam Viet Company, accounting for 5% and 2%, respectively, of the total value of Vietnamese pangasius exports.
In February 2024, pangasius export turnover to the US decreased, partly due to the Lunar New Year holiday. However, with positive information from the US market, Vietnamese pangasius is expected to grow well in the US market this year.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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