The US Department of Commerce (DOC) has cleared four Vietnamese seafood companies of charges of dumping frozen tra pangasius fillets on the US market between August 1, 2007 and July 31, 2008.

The conclusion, which frees the QVD, Vinh Hoan, Samefico and Cadovimex II from the dumping allegation, is the preliminary result of the 5th administrative review of anti-dumping tariffs imposed on Vietnamese frozen tra pangasius fillets by the DOC during the above-mentioned period.

According to the Vietnam Association of Seafood Exporters and Processors (VASEP), the US has recently revised down the anti-dumping levies on several Vietnamese exporters after re-examination.

Some companies even enjoy 0 percent tax rate, which is “evidence that the US has recognised that Vietnam does not dump pangasius on the market,” said Nguyen Viet Thang, Chairman of the Vietnam Fishery Association.

In the recent past, many pangasius farmers in Vietnam have suffered huge losses due to a sharp decline in exports as the economic crisis hit the world economy. Some farming households had no option but to temporarily suspend production.

VASEP statistics show that at present, up to 40 percent of the farming area in the Mekong River Delta region remains untapped.

The region’s pangasius production is expected to shrink by 40 percent in 2009, which will greatly affect business for local processors.

In the meantime, seafood is one of Vietnam’s key industries. Seafood exports fetched US$4.5 billion in 2008, of which earnings from pangasius hit US$ 1.5 billion.

The US is currently the 4th largest importer of this product, buying US$79 million worth of products each year.