Tra fish exports to U.S. see strong surge

Workers are seen processing tra fish in this file photo. Tra fish exports to U.S. surged by a staggering 43% year on year in January-September - PHOTO: TRUNG CHANH

Ho Chi Minh City – Revenue from Vietnamese tra fish (pangasius) products exported to the United States rocketed by some 43% from a year earlier to a whopping US$369 million in the year to September, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tra fish shipments to the United States have seen a steep rise since early July, VASEP noted in a report.

In particular, its export revenue in August surged by 256% from a year earlier to a record high of US$66 million. The trend continued in September, with its revenue increasing by 152.5% on year to US$48 million.

Local tra fish processors attributed the surge to stable market needs and higher prices.

Moreover, the Food Safety and Inspection Service (FSIS) under the United States Department of Agriculture has proposed amending the Siluriformes fish inspection regulations to list Vietnam as a country eligible to export fish and fish products of the Siluriformes order to the United States. Vietnamese catfish, under the Siluriformes order, mainly tra fish, will be qualified to be shipped to the United States if the proposal is approved.

Besides this, the U.S. Department of Commerce (DOC) has announced the preliminary results of the 14th period of review (POR 14), lowering antidumping tariffs on pangasius imports from Vietnam by US$3.78-US$5.35 per kilogram, compared with the levels in POR 13.

Tra fish products exported by NTSF Seafoods JSC, a mandatory respondent of POR 14, between August 2016 and July 2017, are subject to an antidumping tax of US$1.37 per kilogram. Meanwhile, another compulsory respondent, Hung Vuong Group, is now exempt from the tax.

The antidumping duty is US$0.41 per kilogram for voluntary respondents and US$2.39 for the remaining Vietnamese tra fish exporters. Meanwhile, the average tariff for tra fish imports from Vietnam in POR 13 was US$3.78 per kilogram, with the highest level being US$7.74 per kilogram of tra fish.

DOC will announce the final results of POR 14 early next year.

In addition, many Vietnamese businesses see the escalating trade war between China and the United States as an opportunity to step up tra fish exports to the world’s largest economy.

VASEP forecast that the United States would surpass China to become Vietnam’s largest tra fish importer during this quarter.

Apart from the United States, Vietnam’s tra fish exports to other markets such as China, the European Union and the Association of Southeast Asian Nations (ASEAN) have also seen significant progress.

Tra fish exports to the European Union, as of late September, increased by 14.6% year-on-year to US$176.4 million. The pace is expected to continue until the end of this year.

Meanwhile, local tra fish exporters shipped their products, worth US$376.8 million, to China, including Hong Kong, in the first three quarters of this year, marking a year-on-year rise of 30.8%.

The report stated that China remains the largest market for Vietnamese tra fish processors, making up 23.6% of the total tra fish export value. However, its growth rate for the rest of the year is expected to be less than 10% compared with the same period last year.

VASEP General Secretary Truong Dinh Hoe was quoted by Nhan Dan newspaper as saying that exports to this market are facing many barriers. Since the volume of tra fish products exported to China have increased sharply, the Chinese market authorities have set up technical barriers to strictly control quality through official channels.

As of late September, the country also earned US$145.5 million from tra fish exports to the ASEAN region, especially Thailand, the Philippines and Singapore, marking a year-on-year increase of 44%.

During the nine-month period, Vietnam’s total export value for tra fish rose by 22.6% year-on-year to US$1.59 billion. VASEP projected that the figure would reach US$2.1 billion this year, up 22% against 2017, the highest level to be recorded by the sector.