US amends duties for VN’s shrimp firms

The US Department of Commerce (DoC) has amended its final anti-dumping duties for February 1, 2006 through January 31, 2007 for 22 Vietnamese shrimp companies.

The online Seafood.com News on May 13 issued the list of the 22 Vietnamese exporters, saying the move was in response to the ruling in Amanda Foods ( Vietnam ) Ltd., et al., v. United States . Read more of this post

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Pangasius prices in the U.S. up 19 percent

Pangasius prices in the U.S. market varied from US$1.95 – US$2.05/pound, up 19 percent compared with the same period last year. In the first half of March 2011, the average export price to the U.S. was US$3.11/pound, up 2.9 percent against that of 2010. Read more of this post

Mazzetta warns low quality shrimp imports will hit U.S. demand

High prices for raw material will mean more low quality shrimp coming onto the U.S. market, which could impact consumer eating experience and demand, said an executive from importer Mazzetta Company.

Prices for shrimp are set to remain high throughout 2011, said Jeff Goldberg, director of shrimp procurement with Highland Park, Il-based Mazzetta, one of the top five shrimp importers in the United States. Read more of this post

VASEP welcomed the decision of DOC on Vietnamese pangasius

The Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s leading trade association representing USD 5 billion worth of fish and shellfish, and whose member companies employ hundreds of thousands of workers on farms and in processing plants in Vietnam, would like to make the following statement regarding the outcome today’s Final Ruling on Duties for Period of Review 6: Read more of this post

Exports to US face tough year ahead

Trade barriers, rising production costs and competition from China will make this year a challenging one for Vietnamese exporters to the US market, a senior official said on Friday

Nguyen Duy Khien, head of the American Depart- ment under the Ministry of Industry and Trade, told a seminar held in HCM City that the Vietnamese economy had faced a “complicated situation” since the beginning of this year. Read more of this post

US senators call on colleagues to repeal 2008 Farm Bill

Six United States senators signed in a letter dated March 15, calling upon colleague to cosponsor S.496, a bill to rescind a provision in the 2008 Farm Bill which, if improperly applied through regulation, would inhibit a Vietnamese fish import.

The signatories, including John McCain, John Kerry, Tom Coburn, Jeanne Shaheen, Mike Crapo, and Scott Brown, wrote in the letter that: “There is neither a safety reason to block the import nor any economic benefit for the country in doing so” because the “costly and duplicative federal regulations aimed at gaming our foreign trading system at the expense of American consumers and taxpayers.” Read more of this post

Pangasius: DOC’s final result about anti-dumping duty, lower duty rate for enterprises

The U.S. Department of Commerce (DOC) has announced the final result of the sixth Administrative Review of anti-dumping duty order on certain Vietnamese frozen fish fillet in the period from August 01, 2008 to July 31, 2009.

Accordingly, enterprises have to pay a lower anti-dumping duty rate compared with this in the preliminary result released in September, 2010.

Basing on reviewing records and comments from Vietnam, DOC finally decided to choose Bangladesh as the benchmark to calculate dumping margin imposed on Vietnamese pangasius. This leads to lower duty rate for enterprises.

VASEP welcomes DOC’s the sixth final result and DOC’s use of data from Bangladesh as the benchmark is objective and fair.

Preliminary result Final result
Enterprises Average dumping margin (USD/kg)
Vinh Hoan Corp. 4.22 0.00
Vinh Quang Corp. 2.44 0.00
AGIFISH Co. 4.22 0.02
ESS LLC 4.22 0.02
South Vina., Ltd 4.22 0.02
CL-FISHCORP.,LTD 0.00
Vietnam – wide rate 2.11 2.11

 

Pangasius become a “catfish again”? Serious possibility for US media Wall Street Journal

The Wall Street Journal in an editorial on Tuesday took aim at U.S. Department of Agriculture’s efforts to reclassify pangasius as a catfish so it might regulate the import of the fish, presumably to the benefit of domestic catfish growers, who appear largely unable to compete with the fish.

“The problem is that the pangasius is an entirely different species of fish. In an earlier bout of protectionism, Congress even passed a law making it illegal to call pangasius “catfish” for marketing purposes. Since that hasn’t deterred American consumers from buying pangasius, Washington is willing to call the Vietnamese fish a catfish again if that makes it easier to ban,” the editorial said. Read more of this post

GLOBEFISH report: Pangasius February 2011

Imports into all major markets still show growth, with supplies coming from other sources within the region that are actively farming pangasius, as well as from Viet Nam.

Viet Nam likely to set minimum price for pangasius exports for 2011

The pangasius industry in Viet Nam continues to face negative publicity, yet demand for this product has not decreased in major markets including in Asia. Imports into all major markets still show growth, with supplies coming from other sources within the region that are actively farming pangasius, as well as from Viet Nam. Pangasius exports from Viet Nam during January to October 2010 were 6.7% higher in volume and 2.4% in value compared with 2009. Exports in 2011 are expected to slide back as a result of raw material shortage. Prices are forecast to rise in 2011, as the cost of raw material is likely to escalate along with bank loan interest rates.

Europe

The EU, which is the largest market for pangasius, imported nearly 3% less from January to October 2010 compared with Read more of this post

Rising pangasius prices benefit Vietnam

Vietnamese farmers and exporters are benefiting from rising pangasius prices in the U.S. market.

“We are taking pretty good profits from surging pangasius prices,” said Nguyen Van Mung, a pangasius farmer in the Mekong Delta province of Dong Thap.

Vietnamese companies exporting pangasius fillets to the United States are buying small fish weighing an average of 750 to 850 grams at very high prices, he said.

“Farming costs this year were reduced significantly as we sold young pangasius,” said Mung, adding that this year’s harvest was one to two months earlier than in previous years.

Mung gained a net profit of more than VND 2 million (USD 100,000) from selling 700 metric tons of pangasius at VND 22,000 (USD 1) per kilogram, the highest gain in the last three years. It usually takes farmers six to seven months to farm pangasius for European and Asian markets, while U.S. consumers preferred small pangasius, which are around four to five months old, so the profit from this market is better, said Mung.

“A pangasius farmer can make a profit of VND 3,000 to 4,000 (USD 0.14 to 0.18) per kilogram from the current price offered by exporters,” said veteran farmer Nguyen Van Thanh in the adjacent province of An Giang.

The value of Vietnam’s seafood exports through October increased 20 percent to USD 532 million. The turnover in the first 11 months of 2010 was the highest ever at USD 4.5 billion, only USD 3 million lower than the target for the entire year. Analysts said the exported pangasius fillet price of USD 4 to 4.20 per kilogram would ensure a booming harvest for local farmers.

However, the Mekong Delta Agriculture and Rural Development Department warned that farmers still must deal with a lot of problems after this year’s quicker-than-usual harvest, including the lack of reinvestment and an increase in the cost of fish feed and medicine.

Farmers said most of them had to borrow money from banks as it took a huge investment of VND 18 to 20 billion (USD 81,820 to 90,910) to breed 1,000 metric tons of pangasius. Borrowers can now expect to pay 16 to 18 percent interest on loans, up from 13 to 14 percent just a few weeks ago. The current lending rate of 16 to 18 percent is the biggest obstacle for local exporters, said Nguyen Van Dao, director of the seafood producer Go Dang. Some exporters said many lenders were not willing to offer loans to them.

Asia Commercial Bank’s Can Tho Province branch, meanwhile, said it still loaned to pangasius exporters. But they refused to provide loans for individual farmers, who they struggled to supervise. The branch said it could consider making loans to farmers who work with co-operatives outsourcing for seafood producers.

 

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