Wed, 22nd May 2024 16:13 (GMT +7)

Good news for Vietnam’s tra fish exports to US

Thursday, 21/09/2023 | 17:00:00 [GMT +7] A  A

Vietnam’s tra fish exports to the US is expecting a better outlook in the remaining months of this year after getting some good news.

Good news for Vietnam’s tra fish exports to US hinh anh 1
Illustrative photo (Photo: VNA)

Vietnam’s tra fish exports to the US is expecting a better outlook in the remaining months of this year after getting some good news.

In early September, the US Department of Commerce (DOC) lowered anti-dumping duties on frozen tra fish filets from Vietnam following its latest preliminary conclusion.

The Federal Register, the daily journal of the US government, published the preliminary results of the 19th anti-dumping duty administrative review (POR19) by DOC on Vietnam’s frozen tra fish filets exported to the US in the August 1, 2021 - July 31, 2022 period.

Accordingly, the US authority determined that two Vietnamese companies, Vinh Hoan Corporation and Can Tho Import Export Seafood Joint Stock Company (Caseamex), which were selected for individual examination as mandatory respondents, will enjoy a tax rate of 0 USD per kilo and 0.14 USD per kilo, respectively.

A rate of 0.14 USD per kilo will be applied to other companies including Cafatex Corporation, International Development and Investment Corporation, Loc Kim Chi Seafood Joint Stock Company, and Hung Vuong Corporation.

The preliminary tax rate given at the POR19 has decreased from the final results of the previous review.

In August this year, the US Food Safety and Inspection Service (FSIS) conducted a thorough review of the food hygiene and safety management system pertaining to Vietnamese tra fish exports to the US.

The review focused on key components to determine the system’s equivalence.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, the initial findings of the inspection have garnered favourable responses from US authorities, with only minor technical discrepancies detected at some farms and businesses.

Such results are so good for Vietnam’s tra fish industry in particular and its agriculture in general, Tien said.

Experts predicted that the positive results of POR19, FSIS’s review, combined with market factors such as increasing consumer demand during the year-end holiday season and decreasing inventories, will positively affect the fish export of Vietnam to the US in the last months of the year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of August 15, Vietnam had shipped 169 million USD worth of tra fish to the US, down 59% year on year.

It said the US was the largest tra fish importer of Vietnam in 2015 and 2016. Since 2019, it has fallen to the second position after China, consuming about 22% of the product.

Vietnam mainly exports frozen tra fish fillets to the US, along with frozen pieces/cuts, frozen breaded, dried puffed, and fried skin products from tra fish.

However, in the first half of this year, due to the economic crisis and high inventory, Vietnam’s tra fish exports to this market slowed down.

Source: VNA