Tax to Us of Vietnamese Pangasius
Summary:
1. The fact that DOC will take back Bangladesh to be the third party replacement instead of Philippines will help to keep the advantage for Vietnam exporters with the anti dumping tax of 0% instead of 130% as preliminary results.
Note: other Vietnamese competitors such as China, Thailand, Cambodia, etc… are not subjected to bear anti-dumping tax for pangasius as Vietnam. Tax rate is 0%.
2. US market is always the most profitable market among all due to the high export price (over USD 3.40 per kilo) while average price of the whole market is around USD 3.00. Total pangasius export value to the US has increased significantly from 35 million USD in 2005 to 177 million USD in 2009. So the preliminary anti dumping tax of 0% for these 7 companies helps Vietnam to maintain this profitable market and increase competitiveness with other countries.
Conclusions:
1.This good news about anti dumping tax for pangasius products imported to the US helps us to maintain and develop this potential market. If we fail in this litigation, we will lose US market to other competitors. Although they can’t produce a large quantity of pangasius as Vietnam, they still can take over the US market by buying from Vietnam and re-export to the US with tax rate 0% as some Chinese companies had done before.
2. 2011 is a good chance for Vietnam pangasius exported to US markets to increase both in volume and value due to some reasons:
- Significant decrease in farming area and volume of local catfish in the US, catfish price in the US has a good increase.
-Flood in the Mississippi has been badly affected to the catfish farming industry.
- US will have to import much more volume of pangasius to supply the domestic demand.
Anti-dumping tax of 0% is very essential for the market development.
3. Recommendations for Vietnam pangasius industry:
- Continue to follow the litigation to struggle for anti-dumping tax rate of pangasius to the US and take more concern to the farm bill new
1. The fact that DOC will take back Bangladesh to be the third party replacement instead of Philippines will help to keep the advantage for Vietnam exporters with the anti dumping tax of 0% instead of 130% as preliminary results.
Note: other Vietnamese competitors such as China, Thailand, Cambodia, etc… are not subjected to bear anti-dumping tax for pangasius as Vietnam. Tax rate is 0%.
2. US market is always the most profitable market among all due to the high export price (over USD 3.40 per kilo) while average price of the whole market is around USD 3.00. Total pangasius export value to the US has increased significantly from 35 million USD in 2005 to 177 million USD in 2009. So the preliminary anti dumping tax of 0% for these 7 companies helps Vietnam to maintain this profitable market and increase competitiveness with other countries.
Conclusions:
1.This good news about anti dumping tax for pangasius products imported to the US helps us to maintain and develop this potential market. If we fail in this litigation, we will lose US market to other competitors. Although they can’t produce a large quantity of pangasius as Vietnam, they still can take over the US market by buying from Vietnam and re-export to the US with tax rate 0% as some Chinese companies had done before.
2. 2011 is a good chance for Vietnam pangasius exported to US markets to increase both in volume and value due to some reasons:
- Significant decrease in farming area and volume of local catfish in the US, catfish price in the US has a good increase.
-Flood in the Mississippi has been badly affected to the catfish farming industry.
- US will have to import much more volume of pangasius to supply the domestic demand.
Anti-dumping tax of 0% is very essential for the market development.
3. Recommendations for Vietnam pangasius industry:
- Continue to follow the litigation to struggle for anti-dumping tax rate of pangasius to the US and take more concern to the farm bill new