In the WTO filing, the Southeast Asian nation requested consultations with the U.S. government concerning U.S. anti-dumping regulations and practices, as well as recent anti-dumping determinations in administrative reviews on fish fillets from Vietnam.
Vietnam said the United States has improperly used the zeroing methodology, which usually translates in an increase of anti-dumping duties on foreign producers, and other practices inconsistent with the WTO.
Vietnam also claimed that the United States has broken rules on dispute settlement, with Vietnamese exporters’ requests for revocation of anti-dumping measures being routinely denied despite the fact many of the exporters are eligible for such a revocation. One such company that has been denied a revocation request is Vinh Hoan Corp., a major exporter of pangasius to the United States.
The United States has 60 days to settle the complaint; otherwise Vietnam could request adjudication from the WTO.
“The United States imposed higher anti-dumping duty on Vietnam pangasius products last year and Vietnam had no other way but complained to WTO to challenge it,” Nguyen Tien Thong, a seafood expert from the University of Southern Denmark, told SeafoodSource.
The value of Vietnam’s pangasius shipments to the United States fell 9.7 percent year on year to nearly USD 320 million (EUR 261 million) during January-November 2017. Vietnam’s Association of Seafood Producers and Exporters (VASEP) earlier this month attributed the drop to U.S. higher anti-dumping tariffs and stringent inspections against Vietnamese products.
The United States is the top destination for pangasius from Vietnam, but the country is shifting its exports to China as the U.S. institutes more protectionist trade measures.
About 90 percent of pangasius imported by the United States is from Vietnam, but its more widespread acceptance in the U.S. market was beginning to threaten U.S. catfish growers and wholesalers, who pushed for political changes to discourage imports of foreign catfish species such as pangasius, according to Thong.
Vietnam had already filed two complaints to WTO over U.S. anti-dumping measures on certain shrimp from Vietnam. The shrimp dispute between the two countries began in 2010 but only ended in 2016 when the United States agreed to remove duties on Vietnamese shrimp exporter Minh Phu Seafood Corp. and to refund duty deposits the Vietnamese firm had paid.
(seafoodsource)
(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.
(seafood.vasep.com.vn) Khánh Hòa province is currently leading the way in implementing Electric Catch Documentation and Traceability System (eCDTs).
(seafood.vasep.com.vn) The European Union, with its stringent quality requirements, has become an attractive destination for the shrimp industry of many countries, including Vietnam. Vietnamese shrimp meeting EU export standards not only increases product value but also solidifies Vietnam's position in the global seafood market.
(seafood.vasep.com.vn) Vietnam's shrimp exports accounted for the highest export value among all seafood products in the first nine months of the year, reaching nearly $2.8 billion, a 10.5% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to the Ben Tre Statistics Department, the province’s aquaculture sector has been relatively stable and has experienced growth recently, particularly due to the high efficiency of intensive shrimp farming models.
(seafood.vasep.com.vn) In the third quarter, several Vietnamese seafood companies announced strong financial results, showcasing resilience and growth in a challenging market.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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