According to preliminary statistics from the General Department of Customs, Vietnam's catfish exports in August reached $191 million, a 12% increase compared to the same period in 2023. Cumulatively, in the first eight months of this year, catfish exports have totaled nearly $1.3 billion, up 9% over the same period last year.

Notably, aside from a slight 2% decrease in the Chinese market, catfish exports to several markets continue to grow by double digits, including the U.S., CPTPP countries, Brazil, Thailand, and Colombia.

Specifically, catfish exports to the U.S. in August 2024 reached over $35 million, a strong increase of 40% compared to August of the previous year. August 2024 also recorded the second-highest export value to the U.S. market this year, following April 2024 with over $37 million.

In the first eight months of this year, catfish exports to the U.S. reached $226 million, up 23% over the same period last year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the recovery of the U.S. market is a catalyst for the growth of Vietnam's billion-dollar catfish industry, especially in the context of less optimistic exports to China.

Furthermore, Vietnam's catfish continues to receive positive news from the U.S. Through procurement programs by the U.S. Department of Agriculture (USDA), the country is expected to maintain its demand for white fish such as cod, grouper fillets, and catfish products. This presents additional opportunities for Vietnamese catfish enterprises to boost exports to this market.

VASEP also reported that the U.S. Department of Commerce (DOC) has announced the preliminary results of the administrative review of the anti-dumping duty order on frozen catfish fillets from Vietnam for the period from August 1, 2022, to July 31, 2023 (POR20).

In its preliminary determination, the DOC found that many Vietnamese exporters of catfish fillets did not dump products into the U.S. market. As a result, eight Vietnamese companies will not be subject to any anti-dumping duties.

Since the U.S. has not recognized Vietnam as a market economy, the DOC uses surrogate values from a third country to calculate dumping margins for Vietnam. In this review, the DOC selected Indonesia as the surrogate country to calculate these margins. The agency believes that Indonesia has an economy comparable to Vietnam's, produces significant quantities of similar goods, and provides usable and reliable data to evaluate Vietnam's production factors.

The DOC will announce the final results of the anti-dumping duties within 120 days from the date of the preliminary results. Although the final outcome is pending, this is considered the most positive news for Vietnam's catfish industry after two decades of anti-dumping disputes in the U.S.

Currently, Vietnam is among the world's top producers and exporters of catfish. This key export product has reached 140 markets, setting a historical record with an export turnover of $2.4 billion in 2022.

With the export growth momentum in the first eight months of this year and optimistic forecasts for continued growth in the last four months, VASEP predicts that the catfish industry could achieve or even surpass its $2 billion export target.

Tam An