Honey exports to the US from Vietnam fell by 90%, the lowest in more than 10 years

Published 2022년 5월 25일

Tridge summary

The US International Trade Commission (USITC) reports a significant decrease in US honey imports from Vietnam in the first quarter of this year, with a 90% drop compared to the same period in the previous year. This has reordered the rankings of honey exporting countries to the US, with Vietnam's share of total imports falling dramatically. This downturn is primarily due to the threat of anti-dumping taxes exceeding 400%, though these have been revised downwards to between 58.74% and 61.27% for Vietnamese producers. The article also notes an increase in honey imports from countries such as Mexico, Canada, and Thailand, while imports from India, Argentina, and Brazil have declined. This shift in honey market dynamics is crucial for Vietnam, as it accounts for 90% of the value of its honey exports, and the country's Ministry of Industry and Trade is working to ensure fair treatment of its honey industry under World Trade Organization regulations.

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Original content

According to statistics from the US International Trade Commission (USITC), the US imported a total of 31,980 tons of honey in the first quarter of this year with a value of 116.3 million USD, down 32% in volume and down 3%. in terms of value compared with the same period of the previous year. In particular, the amount of honey exported from Vietnam to the US has plummeted by nearly 90% compared to 10,532 tons of the same period last year, to only 1,145 tons. This is also the lowest volume that Vietnam's honey industry has exported to the US in more than 10 years. It is noteworthy that all of Vietnam's honey exports to the US came from January and no shipments were recorded in February and March. With this decrease, Vietnam dropped to No. 7 in honey exports to the US compared to 2nd place last year. Vietnam's share of total US honey imports accordingly fell to 3.6% in the first quarter of 2022 from 26% in 2021. Figures from USITC. (Chart: Hoang Hiep) The reason why Vietnam's honey ...

Source: Vinanet