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The DOC's decision was unfair on Vietnamese shrimp exporters and producers who follow a market mechanism.—File Photo
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HA NOI (Biz Hub) — The Viet Nam Association of Seafood Exporters and Producers (VASEP) has protested against the final decision by the US Department of Commerce (DOC) to impose subsidies on frozen shrimp imports from Viet Nam.
The DOC announced that Minh Quy Co., a subsidiary of Minh Phu Seafood Corp., will be taxed 7.88 per cent on frozen shrimp, while Nha Trang Seaproduct Co. will pay 1.15 per cent and others at around 4.52 per cent.
VASEP said that the DOC's decision was unfair on Vietnamese shrimp exporters and producers who follow a market mechanism.
"The Vietnamese shrimp industry has not received any State subsidies for many years," said the report.
Anti-subsidy duties will directly impact the lives of more than 600,000 people involved in the Vietnamese shrimp industry, and US consumers who will have to pay higher prices for shrimp imported from Viet Nam.
"Imports account for more than 90 per cent of the total supply of shrimp in the US. In 2012, the US shrimp industry made significant growth in both output and price. This shows that imported shrimp is not a threat to the US shrimp industry," said the report.
VASEP has asked the US International Trade Commission to consider the case and come to a sound and proper decision.
In the first four months of this year, Vietnamese shrimp exports to the US amounted to US$123.7 million, accounting for 21.4 per cent the shrimp exported during that period. The US is the second largest market for Vietnamese shrimp after Japan. — VNS