Update news VASEP
The US Department of Commerce (DOC) has lowered anti-dumping duties on tra fish (pangasius) products from Vietnam following its official conclusion of its 15th period of review (POR15) from August 1, 2017 to July 31, 2018,
Vietnam gained shrimp export growth to some key export markets in the first quarter of this year, especially Japan and the US, despite the COVID-19 pandemic.
Catfish exports to China dropped by half in the first two months of the year in comparison with the same period last year, resulting in a 32 percent decrease in total export turnover for the entire seafood industry.
Seafood exporters in Vietnam are not too worried though import demand for their products has taken a hit due to the coronavirus epidemic.
Vietnam’s catfish exports have seen a sharp decline because of trade barriers and price fluctuations in the world market.
A series of problems are affecting Vietnam’s catfish industry, including a sharp fall in catfish material price and decrease in breeder quality. The industry has lost its monopoly. On the world market.
Vietnam’s export of tra fish is forecast to reach US$2.06 billion this year, decreasing by 9 per cent year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s shrimp exports continued to shrink over the last 11 months in the face of fierce competition from other major exporters. But it is expected to make its way back next year with the EU-Vietnam trade deal coming into force.
Vietnam is no longer the only catfish producer and exporter in the world and now has to compete with many rivals, including Indonesia, India and China.
The domestic catfish price has fallen to a 2-year low, while Vietnam’s shrimp now has to compete fiercely in prices with rivals, including Thailand and India.
The EU, which was once the second biggest seafood export market for Vietnam, consuming 18 percent of Vietnam’s seafood exports, fell to fifth, with 13 percent, after the EU gave Vietnam the yellow card.
Catfish exports have been unsatisfactory recently. Sales to China and the US have been decreasing since the beginning of the year.
VASEP Secretary General Truong Dinh Hoe says that catfish exports to the EU bounced back in the first months of the year thanks to efforts by processors to improve the quality of products and settle media problems.
The US, one of Vietnam’s four top seafood export markets, represented 53.5 percent of Vietnam’s total seafood export value in the first three months of the year.