Wednesday,  Nov 21, 2018,02:26 (GMT+7) 0 0
U.S. reduces antidumping tariff on Vietnamese shrimp
By Trung Chanh
Wednesday,  Sep 12, 2018,10:08 (GMT+7)

U.S. reduces antidumping tariff on Vietnamese shrimp

By Trung Chanh

Farmers are seen harvesting shrimp. The United States has announced its latest antidumping tax on Vietnamese shrimp - PHOTO: TRUNG CHANH

CAN THO - The U.S. Department of Commerce (DOC) has announced the final results of the 12th period of review (POR 12), lowering the antidumping tariff on shrimp imports from Vietnam compared with the tariff presented in the preliminary results and after POR11.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exported by Sao Ta Foods JSC (FIMEX VN), the only mandatory respondent in the review, and over 30 other local shrimp exporters between February 1, 2016, and January 31, 2017, are subject to an antidumping duty of 4.58%.

The rate was previously fixed at 25.39% when DOC announced the preliminary results of the review on March 8 and set at 4.78% after POR 11.

FIMEX VN Chairman Ho Quoc Luc was quoted by Vietnam News Agency as saying that DOC’s inspection team had reviewed the documents and facilities of the company. Besides this, FIMEX VN had provided all the required information.

According to VASEP, Vietnam’s shrimp exports to other markets increased sharply last year, while the U.S. market reported a decline of 7% to US$659 million. The United States dropped from the first to the fourth position among Vietnam’s largest shrimp importers.

In the January-August period, Vietnam’s shrimp exports stateside continued falling by 10.5% to US$372 million.

With the United States’ new antidumping tax on Vietnamese shrimp, VASEP expected the sector to generate US$615 million from shrimp exports to the country this year, still dropping 6.5% year-on-year.

Domestic shrimp processing and exporting enterprises expect the duty of 4.58% to help boost shrimp exports to the United States in the coming period.

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