Good News for Vietnamese Pangasius
The Vietnam Association of Seafood Exporters and Producers (VASEP) announced that the US Department of Commerce (DOC) has released the preliminary results of its administrative review of the anti-dumping duty order on frozen pangasius fillets from Vietnam for the period of August 1, 2022, to July 31, 2023 (POR20).
Consequently, eight Vietnamese pangasius exporters are exempt from any anti-dumping duties as they were found to have no dumping margins during the period of review.
Since the US does not recognize Vietnam as a market economy, the DOC uses surrogate values from a third country to calculate dumping margins for Vietnam. In this review, Indonesia was selected as the surrogate country for pangasius.
According to standard procedure, the DOC will announce the final results of the POR20 review within 120 days. However, it is not uncommon for the final decision to differ from the preliminary assessment.
Nevertheless, the preliminary POR20 results can be considered the
best news for Vietnam’s pangasius industry in 20 years of anti-dumping litigation in the US.
According to the Handbook on Anti-dumping and Countervailing Duties in the US provided by the Vietnam Chamber of Commerce and Industry (VCCI), since the first anti-dumping investigation by the US against Vietnamese goods in 2001, Vietnam has faced numerous anti-dumping investigations in the US.
Among these investigations, some have had a significant impact on exporters, suppliers, and workers, such as the anti-dumping investigation on frozen pangasius-basa fillets in 2001 and warm-water shrimp in 2003. In 2009, Vietnamese goods were subjected to a countervailing duty investigation for the first time, also initiated by the US (the countervailing duty investigation on PE bags).
Pangasius from Vietnam is Exported to Over 140 Countries
According to Vietnam Customs, the pangasius output in August 2024 is estimated at 148,200 tons, a 3.9% increase compared to the same period last year. This growth is attributed to stable pangasius material prices, encouraging farmers and businesses to increase production to meet processing and export demands.
In August 2024, Vietnam’s pangasius exports to various markets reached nearly $191 million, a 12% increase compared to August 2023. Cumulatively, in the first eight months of the year, pangasius exports reached nearly $1.3 billion, a 9% increase compared to the same period last year. Notably, the exports of value-added pangasius products in the first eight months of this year witnessed a 38% increase compared to the same period in 2023. To date, Vietnamese pangasius has conquered over 140 markets worldwide.
The largest consumers of Vietnamese pangasius are China and Hong Kong, with a value of $370 million. The US follows closely with $226 million. Notably, August 2024 marked the highest monthly pangasius export value to the US since the beginning of the year, a 15-fold increase compared to August 2023. As of August 2024, pangasius exports to the US reached $226 million.
Australia is the largest consumer in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) bloc. In the first eight months of the year, Australia accounted for 39% of Vietnam’s value-added pangasius exports, totaling over $3 million, a 21% increase compared to the same period in 2023.
The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that demand will continue to rise in the second half of 2024 as countries prepare for festivals and holidays. It is also expected that pangasius export prices will recover and gradually increase. For the whole of 2024, Vietnam’s pangasius exports are projected to reach $1.8 billion, a 6% increase compared to 2023.
Vietnam Prepares for EU Inspection Delegation in Aquaculture
The European Union (EU) inspection team is set to visit Vietnam to audit its aquaculture industry. The team is expected to evaluate the country’s residue control program for products destined for the EU market and verify the reliability of ensuring that farmed seafood complies with residue regulations.
The Tasty Treasure: How Vietnam’s Delicacies are Taking Over the World.
The Australian Ambassador revealed that he and his family regularly consume this fruit daily, even opting for it as a breakfast replacement.
