| DOC needs to apply more appropriate tax rates to Vietnamese honey The US accepts applications for administrative review of anti-dumping tax on products from Vietnam |
The United States has slightly raised anti-dumping tariffs on Vietnamese pangasius businesses compared to the preliminary level issued in September 2023, although it is still much lower than the previous "review period".
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| US slightly increases anti-dumping tax on Vietnamese pangasius |
Previously, the US Department of Commerce reduced the anti-dumping duty on frozen pangasius fillet shipments during the POR19 “review period” – from August 1, 2021 to July 31, 2022 – to $0.14/kg for five companies and “nationwide” (including all exporters not eligible for individual rates). The previous national rate was $2.39/kg.
The final tax rate for POR 19 was set at $0.18/kg for five companies: Can Tho Seafood Import-Export Joint Stock Company (CASEAMEX), Cafatex Group, Hung Vuong Group and its affiliates, International Investment and Development Group (IDI), and Loc Kim Chi Seafood Joint Stock Company.
They did not mention the revision of the tax rate across Vietnam. Vinh Hoan Group, which has long enjoyed zero tariffs on sales to the United States, did not sell “subject merchandise in the United States at prices below normal value (NV) during the review period.”
Vietnam Association of Seafood Exporters and Producers (VASEP) said that in February, Vietnam's pangasius exports to the United States reached nearly 16 million USD, down 8% compared to February 2023, partly due to the Lunar New Year holiday.
In the first two months of the year, exports to this market reached 34 million USD, up 25% over the same period last year, mainly due to strong growth in export turnover in the first month of this year. In January, the US increased the value of pangasius imports from Vietnam by 83%.
According to VASEP, there are some positive signs that Vietnamese pangasius will grow well in the US market this year. In March 2023, the US Government issued an Executive Order banning the import of seafood products originating from Russia, aiming to tighten the ban on the import of Russian pollock. However, this Executive Order does not specify the ban on the import of products from third countries that use Russian seafood as raw materials for processing.
Many forecasts say that this decree will significantly affect the world seafood market, possibly re-establishing a new order in the global seafood industry. The suspension of seafood imports from Russia creates a large gap. VASEP assesses that this will be an opportunity for Vietnamese pangasius to replace two key products: pollock and cod.
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