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Good news for Vietnam’s tra fish exports to US

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 ảnh 1Illustrative photo (Photo: VNA) 

Hanoi (VNA) – Vietnam’s tra fish exports tothe US is expecting a better outlook in the remaining months of this year aftergetting some good news.

Inearly September, the US Department of Commerce (DOC) lowered anti-dumpingduties on frozen tra fish filets from Vietnam following its latest preliminaryconclusion.

TheFederal Register, the daily journal of the US government, published thepreliminary 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 twoVietnamese companies, Vinh Hoan Corporation and Can Tho Import Export SeafoodJoint Stock Company (Caseamex), which were selected for individual examinationas mandatory respondents, will enjoy a tax rate of 0 USD per kilo and 0.14 USDper kilo, respectively.

A rateof 0.14 USD per kilo will be applied to other companies including CafatexCorporation, International Development and Investment Corporation, Loc Kim ChiSeafood Joint Stock Company, and Hung Vuong Corporation.

Thepreliminary tax rate given at the POR19 has decreased from the final results ofthe previous review.

In August this year, the US Food Safetyand Inspection Service (FSIS)conducted a thorough review of the food hygiene andsafety managementsystem 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 RuralDevelopment Phung Duc Tien, the initial findings of the inspection havegarnered favourable responses from US authorities, with only minor technicaldiscrepancies detected at some farms and businesses.

Such results are so good for Vietnam’s tra fish industryin 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 demandduring the year-end holiday season and decreasing inventories, will positivelyaffect the fish export of Vietnam to the US in the last months of the year.

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

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

Vietnam mainly exports frozen tra fish fillets tothe US, along with frozen pieces/cuts, frozen breaded, dried puffed, and friedskin products from tra fish.

However, in the first half of this year, due to theeconomic crisis and high inventory, Vietnam’s tra fish exports to this marketslowed down./. 

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