Tra fish exports to US enjoy strong surge

Vietnam earned 369.1 million USD from exporting tra fish to the US in the first nine months of this year, up 42.9 percent year-on-year.
Tra fish exports to US enjoy strong surge ảnh 1Illustrative photo (Photo: VNA)

HCM City (VNA) – Vietnam earned 369.1 million USD from exporting tra fish to the US in the first nine months of this year, up 42.9 percent year-on-year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the value was close to 48 million USD in September, a rise of 152.5 percent against the same period last year, and 65.9 million USD in August, a year-on-year increase of 256 percent.

Businesses attributed the surge to stable market demands and higher prices.

Besides, the Food Safety and Inspection Service (FSIS) under the United States Department of Agriculture has proposed continuing Vietnam’s eligibility to export Siluriformes fish, commonly known as catfish, and fish products to the US.

The US Federal Register has published a draft of a proposal to maintain the eligibility of the three countries of Vietnam, China and Thailand to export catfish and fish products to the US as proposed by FSIS.

In the draft recommendation, FSIS has recognised the catfish inspection system in Vietnam, China and Thailand as equivalent to the US system. If this draft is approved, these three Asian countries will officially be allowed to continue exporting catfish to this market, VASEP said.

The US Department of Commerce (DOC) has announced the preliminary results of the 14th period of review (POR 14), lowering anti-dumping tariffs on pangasius (tra fish) imports from Vietnam by 3.78-5.35 USD per kilogram, compared with the levels in POR 13.

According to the Department of Trade Defence under the Vietnamese Ministry of Industry and Trade, tra fish exported by NTSF Seafoods JSC, a mandatory respondent of POR 14, between August 1, 2016 and July 31, 2017, is imposed an antidumping tax of 1.37 USD per kilogram. Meanwhile, Hung Vuong Group, another mandatory respondent of the review, has been exempted from the tax.

The antidumping duty is 0.41 USD per kilogram for voluntary respondents and 2.39 USD for the remaining Vietnamese tra fish exporters.

Meanwhile, the average tariff on tra fish imports from Vietnam in POR 13 was 3.78 percent, with the highest level being 7.74 USD per kilogram.

DOC will announce the final results of POR 14 in January 2019.

Additionally, many Vietnamese businesses have seen the US-China trade war as an opportunity to step up tra fish exports to the US.

VASEP forecast that the US would surpass China to become Vietnam’s biggest tra fish importer in the fourth quarter of this year.

Apart from the US, Vietnam’s tra fish exports to other markets like China, the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) has also made significant progress.

As of the end of September, Vietnam’s tra fish exports to the EU reached 176.4 million USD, up 14.6 percent year-on-year. The pace is expected to continue until the end of this year.

Meanwhile, the country pocketed 376.8 million USD from tra fish exports to China, a rise of 30.8 percent against the same period last year. China is now Vietnam’s biggest tra fish importer, making up 23.6 percent of its total tra fish export value.

ASEAN is Vietnam’s fourth largest tra fish importer with export value to the market hitting 145.5 million USD as of September 30, up 44 percent year-on-year.

During the period, Vietnam’s tra fish export value amounted to 1.59 billion USD, increasing 22.6 percent year-on-year.

VASEP forecast that the figure will reach 2.1 billion USD this year, up 22 percent compared to 2017, the highest level to be recorded by the sector.-VNA

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