Vietnamese catfish products exported to the US yielded USD 140 million in 2009. (Photo: Stock File)

Seafood exporters aim for US market

VIET NAM
Wednesday, January 27, 2010, 03:30 (GMT + 9)

Vietnamese seafood producers expect their market shares in the US to grow as they develop distribution systems for the American market.

The two major Vietnamese pangasius (tra and basa) exporters, Binh An Seafood Jointstock Co (Bianfishco) and Hung Vuong Seafood Jointstock Co, are creating distribution systems to increase the chances of getting their fish and other seafood products into the US market, according to Deputy Minister of Agriculture and Rural Development Luong Le Phuong.

Head of Bianfishco Pham Thi Dieu Hien reportedly spent 80 days in the US to learn about the market.

Her company has thus far exported 30 consignments of tra fish products through its distribution system, which is still under trial, VOVNews reports.

The US market research also suggested establishing other avenues, such as a chain of fast food restaurants with the company’s tra and basa fish at hotels, schools, entertainment areas and public places.

In March of last year, the company set up the Bianfishco US Company in Los Angeles, California, for an investment of USD 80 million. Workers are now being hired to expand operations even though elsewhere many companies are slashing staff due to the recession.

Phuong said all seafood exporters should be careful of three things when developing distribution systems in the US: their first partner in the US must be a native, they must attract a lot of media attention and build on their trademarks and they must have lawyers and communicate closely with local authorities.

Vietnam’s tra and basa fish exports yielded USD 1.4 billion in 2009, including USD 140 million from sales to the US.

Meanwhile, the US Department of Commerce (DOC) has delayed its final decision on whether or not four Vietnamese companies dumped tra and basa in the US between 1 August 2007-31 July 2008.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the four companies are the Dong Thap Food Company, the Vinh Hoan Joint Stock Company, the Saigon-Mekong Fishery Company (Samefico) and Seafood Import-Export Joint Stock Company No 2 (Cadovimex II).

In its preliminary determination last September, DOC said the above companies did not dump frozen tra fish in the US market during the aforementioned time period. The final decision was expected to come on 2 January 2010, but DOC has extended this by another 60 days.

The department said it would consider its anti-dumping policy for the fifth time on a number of frozen tra fillets.

Related article:

- US clears four firms of dumping charges

By Natalia Real
[email protected]
www.seafood.media

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