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04 May 2008

US revises anti-dumping duties on Vietnam catfish



The US has amended the anti-dumping duties on catfish imports from Vietnam, the Mekong Fresh Fish Committee said adding the changes were drastic.
The Department of Commerce (DOC) ruled that the penal tax on giant tra and basa catfish exporter, Vinh Hoan Company, would be cut sharply to 6.81 percent from an earlier 36.84 percent.
But for another company, Cataco, it had increased the tax to a whopping 80.88 percent from 45.81 percent but had offered no explanations.
Vinh Hoan and Cataco were two of four Vietnamese companies that had agreed to cooperate when the US originally undertook the anti-dumping action against catfish imports in 2002.
The other two, Agrifish and Nam Viet Ltd., Co, were slapped with tariffs of 47.05 percent and 53.68 percent respectively.
Seven smaller exporters pay taxes ranging from 45.55 to 63.88 percent.
All the other rates now remain unchanged.
However, Ngo Phuoc Hau, chairman of the Mekong Fresh Fish Committee, said local exporters ignored the DOC’s actions since their products were in demand in the EU, Middles East, Russia, and Asia.
Admittedly, it was the US anti-dumping action which forced the Vietnamese businesses to explore other markets and diversify into exporting fresh fillet products and value-added products which fetch higher profits.
Catfish orders worth more than US$100 million poured in from the EU and other markets at the end of last year, a rise of 75 percent year-on-year.
Exports to other markets too rose, especially to ASEAN member-countries, according to the Vietnam Association of Seafood Exporters and Processors. They were worth nearly $40million, up 70 percent.
Vietnam targets annual tra and basa exports of US$800 million by 2010.
Source: Tuoi Tre – Translated by Ha Viet


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