Anti-dumping tariffs on shrimp sent to US see huge reduction

Friday, Mar 06, 2015 11:04

Shrimps are processed for exports in Hau Giang Province. Anti-dumping tariffs imposed on Vietnamese exported shrimps to the US have been cut sharply during the ninth period of review. — VNA/VNS Photo Huy Hung

HA NOI (Biz Hub) — Anti dumping tariffs imposed on Vietnamese warm water shrimp products exported to the U.S. market have been cut sharply during the 9th period of review (POR 9).

This was revealed by the Viet Nam Association of Seafood Exporters and Producers (VASEP).

Under the preliminary results of the POR 9 released by the U.S. Department of Commerce on March 3, the average tariff had dropped to 0.93 per cent from 6.37 per cent imposed in the POR 8, VASEP reported on its website yesterday.

Those rates were imposed on Vietnamese shrimp exporting to the US in the period from February 1, 2013 to January 31, 2014.

Of this, Fimex VN will enjoy a zero tariff rate, while the Minh Phu Seafood Corp will bear the highest rate at 1.5 per cent, followed by Thuan Phuoc Corp at 1.06 per cent.

The sharp reduction in tariffs is partly due to the DOC calculating the tariff rates based on appropriate data from three countries, along with Bangladesh, India and Indonesia, the association pointed out.

The final result on the rates will be announced after 90 days from the date of release of the preliminary results.

The association expects the DOC to keep the rates of the preliminary results unchanged and this will greatly benefit Vietnamese shrimp exports to the United States going forward.

Last year, Vietnamese shrimp exports to the United States reflected strong growth in the initial months and then dropped sharply from September when the United States imposed the highest anti-dumping tariff rates ever on Vietnamese shrimp at 6.37 per cent.

The export value of Vietnamese shrimp to the United States reached US$1 billion last year, the association said. At present, the United States is the largest export market for Vietnamese shrimp. — VNS

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