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US may cut shrimp duties

Released at: 09:54, 10/03/2015

US may cut shrimp duties

Preliminary results of DOC review good news for Vietnamese shrimp exporters.

by Hoai An

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US Department of Commerce (DOC) has announced the preliminary results of its ninth anti-dumping duty administrative review (POR9) of frozen shrimp imported from Vietnam from February 1, 2013 to January 31, 2014. Preliminary results showed that the average tax rate is down significantly, to 0.93 per cent compared to POR8’s 6.37 per cent.

Among three of the compulsory defendants, the Minh Phu Seafood Corp is subject to the highest anti-dumping tariff, of 1.5 per cent, while that for Thuan Phuoc Corp. is 1.06 per cent and Fimex VN 0 per cent. The other voluntary defendant is subject to a rate of 0.93 per cent.

Based on data from three countries - Bangladesh, India and Indonesia - used to calculate costs, DOC announced lower tariffs for Vietnamese enterprises.

If the preliminary results stand this will be a major opportunity for Vietnam’s shrimp exports to the US. The final results will be announced after 90 days from the date of publishing the preliminary results.

In 2014, shrimp exports to the US increased significantly from January then started to decline in September, after the US announced the final results of POR8, with a highest tax rate of 6.37 per cent. The US is Vietnam’s largest export market, with revenue of over $1 billion dollars in 2014.

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