Vietnamese Catfish (Pangasius) Have Received A Tariff Reduction in The United States.

The preliminary anti-dumping tariffs on Vietnamese catfish (pangasius) imported into the United States have been announced with reductions compared to the same period last year. Specifically, two companies are now subject to mandatory tariffs of 0 USD/kg and 0.14 USD/kg, respectively…

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s catfish (pangasius) exports have received positive news. The U.S. Federal Register has recently released preliminary results of the 19th administrative review of the anti-dumping duties on frozen filleted pangasius catfish, and the outcome is favorable. This is one of the key products for Vietnam’s catfish industry when participating in this market.

As per the announcement, two Vietnamese catfish export companies subject to mandatory tariffs are Vinh Hoan Corporation (Vinh Hoan Corp) and Can Tho Import-Export Seafood Joint Stock Company (Caseamex), with tariffs of 0 USD/kg and 0.14 USD/kg, respectively.

Vietnamese Catfish (Pangasius) Have Received A Tariff Reduction in The United States.

Other voluntary participant companies are also subject to a tariff of 0.14 USD/kg. These companies include the National Investment and Development JSC (I.D.I), Cafatex Seafood Joint Stock Company, Loc Kim Chi Seafood Joint Stock Company, and Hung Vuong Corporation.

According to VASEP, the preliminary tariff rates have decreased compared to the final results from the previous review. The anti-dumping duties imposed on most Vietnamese companies in September of the previous year were 2.39 USD/kg, with some companies facing duties ranging from 0 to 3.87 USD/kg.

The United States was the largest market for Vietnamese catfish (pangasius) consumption in 2015 and 2016, following the establishment of comprehensive partnership relations between Vietnam and the United States in 2013. Since 2019, the U.S. has remained the second-largest import market for catfish, following China and Hong Kong, with a market share of around 22%.

However, according to VASEP (the Vietnam Association of Seafood Exporters and Producers), the U.S. market has been less optimistic for Vietnamese catfish in the early months of this year due to inflation, economic slowdown, and especially high inventories resulting from heavy imports in the first half of 2022. These factors have contributed to the slowing of catfish imports into this major market in the early months of this year.

The export price of Vietnamese catfish to the U.S. market has ranged from 2.97 to 3.45 USD/kg in the first six months of 2023. Vietnam primarily exports frozen filleted catfish, cut pieces/frozen chunks of catfish, frozen catfish fillets coated with flour, dried puffed catfish, and fried catfish skin to the U.S. market.

As of mid-August 2023, Vietnamese catfish exports to the U.S. reached 169 million USD, a 59% decrease compared to the same period last year.

VASEP notes that the top three Vietnamese companies in catfish exports to the U.S. are Vinh Hoan, Bien Dong Seafood, and Van Duc Tien Giang, accounting for 51%, 18%, and 11% of the total export value, respectively.

However, VASEP believes that seafood consumption, in general, and catfish, in particular, is gradually picking up. The results of the U.S. inspection have helped create a positive outlook for export businesses in the coming period.

According to VASEP, in 2022, Vietnam’s seafood exports to the United States reached a record-breaking 2.15 billion USD, marking an 80% increase compared to a decade ago, before Vietnam and the United States established comprehensive partnership relations in 2013. Key seafood export items to the United States have all seen significant growth over the past 10 years.
Specifically, shrimp exports increased by 77%, rising from 454 million USD to 807 million USD, with shrimp exports surpassing the 1 billion USD mark in 2021; catfish exports increased by 50%, going from 359 million USD to 537 million USD; and tuna exports doubled from 244 million USD to 489 million USD. These three sectors accounted for over 80% of the total seafood export value to the United States.

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