New opportunity after 20 years of anti-dumping lawsuit

After two decades of facing anti-dumping lawsuits, the Vietnam Association of Seafood Exporters and Producers (VASEP) has just informed that the US Department of Commerce (DOC) has announced the preliminary results of the administrative investigation to review the anti-dumping tax order on Vietnamese frozen pangasius fillets for the period from August 1, 2022 to July 31, 2023 (POR20).

The results showed that 8 major Vietnamese pangasius exporting companies did not commit dumping acts in the US market, so they will not be subject to any taxes.

The list of these companies includes: Vinh Hoan Corporation (Vinh Hoan Corp); Bien Dong Seafood Company Limited; Can Tho Seafood Import-Export Corporation (CASEAMEX); Dai Thanh Seafood Company Limited; Dong A Seafood Company Limited (DONG A SEAFOOD); Hung Ca 6 Company; Nam Viet Corporation (NAVICO) and NTSF Seafood Corporation (NTSF SEAFOODS).

Pangasius received the best news after 20 years of being involved in an anti-dumping lawsuit in the US. Illustrative photo

Currently, the US has not recognized Vietnam as a market economy, so DOC has used the surrogate values ​​of a third country (Indonesia) to calculate the dumping margin for pangasius. Indonesia was chosen due to its economic similarities and production of similar goods.

According to regulations, after 120 days of announcing the preliminary results, DOC will announce the final tax results of POR20. However, in many cases, the final results may differ from the preliminary assessment. The fact that many companies are not subject to tax will open up great opportunities for the pangasius industry to increase exports to the US, especially in the last months of the year.

Vietnam’s pangasius industry is facing a great opportunity as demand for whitefish in the US is increasing. The US market is also lacking some types of whitefish, creating favorable conditions for pangasius. However, the industry also needs to prepare to meet increasingly stringent requirements from importers.

Pangasius exporting enterprises need to proactively research and develop new products and meet market demand. Preparation for year-end festivals and events is also an important factor in increasing orders.

Mr. Tran Van Quang - Southern Seafood Industry Company Limited (South Vina) - said: "This good news not only brings hope to the 8 tra fish exporting companies above but also motivates us to make more efforts in improving product quality and expanding the market. Enterprises need to take advantage of this time to increase competitiveness and find new customers."

The news from the US Department of Commerce is considered a historic turning point for the Vietnamese pangasius industry after two decades of hardship. The exemption from anti-dumping duties not only helps businesses increase exports but also opens up many development opportunities in the future. However, businesses need to remain proactive and flexible to adapt to market fluctuations, thereby affirming the position of Vietnamese pangasius in the international market.

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's pangasius exports to the United States in the first 8 months of 2024 increased by 23% compared to the same period last year. This is considered a "bright spot" while pangasius exports to another leading market, China, in the past 8 months decreased by 3% compared to 2023.

Source: https://congthuong.vn/xuat-khau-ca-tra-co-hoi-moi-sau-20-nam-vuong-vu-kien-ban-pha-gia-346655.html