The Association of Seafood Exporters and Producers (VASEP) said that the US Federal Register has released preliminary results of the 19th administrative review of dumping tax on Vietnam's frozen pangasius fillets to the US, period August 1, 2021 - July 31, 2022.

Accordingly, two Vietnamese pangasius export enterprises, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) and Can Tho Seafood Import-Export Joint Stock Company (Caseamex), enjoy tax rates of USD 0/kg and USD 0.14/kg, respectively.

Other businesses also enjoying a tax of 0.14 USD/kg are I.D.I CORP, Cafatex Seafood Joint Stock Company, Loc Kim Chi Seafood Joint Stock Company and Hung Vuong Joint Stock Company.

VASEP assesses that this preliminary tax rate is lower than the anti-dumping tax rate of 2.39 USD/kg in September 2022, applicable to most businesses under investigation.

As of August 15, Vietnam's pangasius exports to the US reached USD 169 million, a decrease of 59% over the same period last year. The US has been a not very optimistic market for Vietnamese pangasius in the first months of this year due to high inflation and inventory, and economic downturn.

However, with the year-end holiday season, inventory gradually decreasing, positive results after the FSIS inspection will create motivation for Vietnamese pangasius businesses going to the US in the last months of the year.

Regarding seafood in general, VASEP said the US is always the leading import partner of Vietnamese seafood. In 2022, Vietnam's seafood exports to the US reached a record of USD 2.15 billion, an increase of 80% compared to 10 years earlier, before Vietnam - US established the Comprehensive Partnership in 2013.

In the pangasius segment alone, export turnover also increased by 50%, from USD 359 million to USD 537 million.

VASEP expects Vietnam's seafood trade with the US to have breakthroughs and be more sustainable after the state visit to Vietnam by President Joe Biden and the US high-level delegation, along with the Joint Statement on elevating Vietnam - US relations to Comprehensive Strategic Partnership.

Kylie Nguyen