May 8, 2007
Vietnam catfish exporter receives anti-dumping reduction from the US
The US Department of Commerce (DOC) has given its second reduction in anti-dumping-duties on a Vietnamese catfish export company, after uncovering cost and forex miscalculations.
The Mekong Delta Dong Thap province-based QVD Food Pte (QVD) will see its penal tax reduced to 15.01 percent from the current 21.23 percent.
In the second administration review conducted by the DOC between August 2004 and July 2005, the bureau lowered the anti-dumping tax on QVD to 21.23 percent, down from 66.34 percent due to the exporter's complaint over miscalculation of frozen warehouse costs and foreign exchange rates.
Other Vietnamese tra and basa catfish exporters will still have the remaining penal taxes between 45.55 and 63.88 percent.
The US originally undertook anti-dumping action against catfish imports from Vietnam in 2002 which forced Vietnamese establishments to explore other markets and shift into fresh fillet exports and other products for higher profits.
Vietnam targets annual tra and basa exports of US$800 million by 2010.
The DOC also recently announced a reduction in export levies for two Vietnamese shrimp exporters, both from the southern region of the country.
The two exporters enjoying tax cuts in the first administration review conducted by DOC are the Fish One Company from Mekong Delta province of Can Tho and the Grobest Company based in southern Dong Nai province.
The former sees export duties reduced to 0.01 percent and the latter to 1.08 percent. Earlier, the two companies faced tax rates of 4.57 percent.
Fish One and Grobest were reportedly not subject to anti-dumping lawsuits filed early this year by the US Southern Shrimp Association.
The US, EU and Japan are the largest importers of Vietnamese shrimp and shrimp products.
Vietnam seafood exports reached $1.036 billion in the first four months this year, up 20.4 percent on year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
