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Viet Nam Shrimp Exports to US Projected to Grow

15 September 2015

VIET NAM - Shrimp exports from Viet Nam to the US are expected to grow following the final results of the ninth anti-dumping duty administrative review by the US Department of Commerce (DOC) on frozen shrimp imported from Viet Nam.

The period of review (POR) is from 1 February 2013 to 31 January 2014.

For this ninth review, the DOC has imposed an average anti-dumping duty of 0.91 per cent. This is down from the 0.93 per cent in the preliminary results announced in March 2015.

It is also much lower than final result of POR8, which was 6.37 per cent.

The rate applied to Minh Phu Seafood Corp is 1.39 per cent, down from 1.5 per cent in the preliminary result.

For Thuan Phuoc Corp it is 1.16 per cent, slightly higher than the preliminary result which was 1.06 per cent.

And the rate applied for Fimex VN is 0 per cent.

Duty applied for 32 separate rate respondents is 0.91 per cent . Vietnam-wide rate is 25.4 per cent, down from 25.76 per cent in POR8.

The DOC based its decisions on data from Bangladesh, India and Indonesia. These are suitable countries and this is a factor that lowered the anti-dumping rate.

With the reduction in antidumping tax in POR9, Viet Nam's shrimp exports to the US are forecast to be better in the end of 2015, after a fall by over 50 per cent in the first eight months of this year.

Shrimp exports to the US rose sharply in the first months of 2014. After the US DOC announced the final results of POR8 with tax rate of 6.37 per cent , the highest so far, from September 2014, shrimp exports to the US started declining.

In the first eight months of 2015, Vietnam shrimp exports to the US reached $370 million, continuing the downward trend due to competition on prices and supply against India and Indonesia.

The US is Viet Nam's biggest shrimp importing market, accounting for over 20 per cent of Viet Nam's shrimp exports. In 2014, shrimp exports to the US surpassed $1 billion.

TheFishSite News Desk

Top image via Shutterstock



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