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Tra export forecasts lowered
The Ministry of Industry and Trade has reduced its October forecast for tra fish exports from US$1.38 billion to $1.35 billion following plans by the US to impose an anti-dumping tax of 130 per cent on the fish.
The Viet Nam Association of Seafood Exporters and Producers (VASEP) said the country's total seafood export value this year would be $4.81 billion, lower than earlier estimates.
The new tax rate, far in excess of any previous dumping tariffs imposed on Vietnamese seafood exports in the last eight years, was agreed at the sixth administrative review by the US Department of Commerce (DOC).
In pervious DOC reviews, most Vietnamese exporters enjoyed a tax rate of just 0.52 per cent – the lowest possible.
VASEP said the US department's ruling was unjustified and that it was based on the price of raw materials imported from the Philippines, not from Bangladesh as was previously the case.
The 130-per-cent anti-dumping tax rate will be imposed on Vietnamese tra exporters, such as Vinh Hoan, Vinh Quang, Agifish, ESS LLC and South Vina from March 2011.
Nguyen Ngo Vi Tam, Deputy General Director of Vinh Hoan, said her firm would reduce exports of tra fish to the US and increase exports to other markets as a result.
VASEP said DOC had given Vietnamese tra exporters until October 26 to submit documents relating to their exports if they wanted the draft tax rate reviewed.
vietnamnews
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