More convenient tra fish exports to the US with new anti-dumping tax

Tra fish exports to the US are growing strongly. The new anti-dumping tax announced by the US Department of Commerce will help businesses exporting tra fish to the US gain more confidence.

Tra fish processing for export in Cuu Long Delta Vietnamese tra fish accounts for more than 90% of the US tra fish import value.

Information from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that, right from the end of 2020, when the COVID-19 epidemic situation in the US was better controlled, this country’s tra fish inventory had dwindled, domestic catfish production has decreased, causing import demand for frozen tra fish products to increase again. Therefore, in the first half of this year, tra fish export value to the US grew very positively.

Specifically, during the first 5 months of 2021, the total value of tra fish exports to the US reached USD 134.2 million, up 55.3% over the same period last year. In May 2021, the export value reached USD 32.2 million, up 173.4 %. Previously, in April 2021, the export value of tra fish to this market also increased by 136%, reaching USD 30.3 million.

Final results of the 16th period of anti-dumping tax review (POR16) on frozen tra fish shipments imported from Vietnam to the US market in the period from August 1st, 2018 to July 31st, 2019, announced by the US Department of Commerce on June 28th, 2021, has brought more confidence to Vietnamese tra fish businesses.

According to POR16, two Vietnamese tra fish exporters, Vinh Hoan Joint Stock Company (VINH HOAN CORP - Dong Thap Province) and Nam Viet Joint Stock Company (NAVICO - An Giang Province) have been given the tax rate of 0%. This is good news for these two businesses and also a positive signal for tra fish exports to the US market in the second half of 2021.

In accordance with the inheritance results from the POR15, NTSF Seafood Joint Stock Company (NTSF SEAFOODS - Can Tho) and Can Tho Seafood Import - Export Joint Stock Company (CASEAMEX - Can Tho) were given a tax rate of USD 0.15/kg. Bien Dong Seafoods Company Limited (BIEN DONG SEAFOOD - Can Tho) still enjoys a tax rate of 0.19%. These are all low tax rates, which do not hinder these companies when exporting tra fish to the US.

Currently, there are more than 10 Vietnamese tra fish enterprises participating in exporting to the US market. In particular, VINH HOAN CORP, BIEN DONG SEAFOOD and NAVICO are the 3 enterprises with the largest export value. In the first 5 months of this year, the export value of these enterprises reached USD 104 million, USD 46.8 million and USD 41.5 million respectively.

Vietnamese tra fish enterprises mainly export frozen tra fish fillets, frozen tra fish cut/pieces, frozen tra fish cut fillets, frozen beheaded whole tra fish/pieces, and dried tra fish skin, breaded tra fish fillet cut, and dried tra fish to the US market.

Vietnam is the leading supplier of frozen tra fish to the US market, accounting for 90.5 - 95% of the country's total tra fish import value. Apart from Vietnam, the US also imports fresh, chilled and frozen tra fish products from China and some other transitional markets.