New opportunities after 20 years of anti-dumping lawsuit

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

The results show that eight major Vietnamese pangasius exporting companies did not engage in dumping practices in the US market and therefore will not be subject to any tariffs.

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

Pangasius fish farmers receive the best news after 20 years of being embroiled in an anti-dumping lawsuit in the US. (Illustrative image)

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

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

The Vietnamese pangasius industry is facing a great opportunity as demand for whitefish in the US is increasing. The US market is also experiencing shortages of certain whitefish varieties, creating favorable conditions for pangasius. However, the industry also needs to prepare to meet the increasingly stringent requirements from importers.

Pangasius exporting businesses need to proactively research and develop new products to meet market demands. Preparing for year-end festivals and events is also a crucial factor in increasing orders.

Mr. Tran Van Quang - from South Vina Seafood Industry Co., Ltd. - said: "This good news not only brings hope to the 8 pangasius exporting companies but also motivates us to strive harder in improving product quality and expanding markets. Businesses need to take advantage of this time to increase competitiveness and find more new customers."

Information from the US Department of Commerce is considered a historic turning point for Vietnam's pangasius industry after two decades of hardship. The exemption from anti-dumping duties not only helps businesses increase exports but also opens up many opportunities for future development. However, businesses need to maintain proactiveness and flexibility 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 Processing and Export (VASEP), Vietnam's pangasius exports to the United States in the first eight 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, decreased by 3% in the same period 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