US anti-dumping duty review on Vietnamese tra fish indicates positive results
VOV.VN - The Vietnam Association of Seafood Exporters and Producers (VASEP) has received the preliminary results of the US Federal Register’s 19th anti-dumping duty review (POR19) on the nation’s frozen fish fillet in the period from August 1, 2021, to July 31, 2022, with positive outcomes.
According to the review, the US authority determines that two Vietnamese companies, Vinh Hoan Corporation and Can Tho Import Export Seafood Joint Stock Company (Caseamex), which have been selected for individual examination as mandatory respondents, will enjoy a tax rate of US$0 per kilo and US$0.14 per kilo, respectively.
A rate of US$0.14 per kilo will be applied on 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 given in the previous review.
According to the VASEP, the US made up the largest tra fish importer from the Vietnamese market in 2015 and 2016. Since 2019, it has fallen to second position after China, consuming about 22% of the product.
The nation 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 the year, due to economic crisis and high inventory, the country’s tra fish exports to this market slowed down. As of August 15, the nation had exported US$169 million worth of tra fish to the US, a decline of 59% on-year.
Experts view that the positive POR19 results, combined with market factors such as increasing consumer demand during the year-end holiday season and decreasing inventories, will positively affect the country’s tra fish export to the US market in the last months of the year.
Le Hang, PR director of the VASEP, said that as of the end of August, the country’s aquatic export revenue generated from the US market hit more than US$1 billion, down 39% on-year.
However, Hang noted that the US, with the third largest population in the world, will still be the leading strategic partner of the Vietnamese fisheries sector, not only with traditional products, but also high-added value products to meet the demand of the middle income class or immigrants.
