Processing shrimp for export (Source: VNA)HCM City (VNA) – The US Department of Commerce (DoC) hasannounced the final results of the 12th Period of Review (POR 12), lowering theanti-dumping tariff on shrimp imports from Vietnam.
The POR 12 took place from February 1, 2016 to January 31,2017.
Specifically, shrimp exported by Sao Ta Foods JSC (FIMEXVN), the only mandatory respondent in the review, and over 30 other localshrimp exporters are subject to an antidumping duty of 4.58 percent.
This final rate is far lower than the preliminary rate of25.39 percent, first announced by the DoC on March 8. It is also slightly lowerthan the duty was in the prior period.
Ho Quoc Luc, Chairman of the Directorate Board of Fimex,said Fimex cooperated fully with the DoC during its inspection and delegationperiod.
In 2017, the export value of Vietnamese shrimp to the USfell 7 percent from the previous year because of the hefty anti-dumping duty.Meanwhile, the export value to other markets rose sharply, hitting 659 millionUSD, according to the Vietnam Association of Seafood Exporters and Producers(VASEP).
As a result, the US lost its spot as the fourth largestimporter of Vietnam’s shrimp. The export decrease continued in the first eightmonths of 2018, falling 10.5 percent to about 372 million USD.
With the new lower rate, Vietnam’s shrimp exports to the USare expected to recover in the coming months. Despite the expected rebound, thefinal number is expected to be 6.5 percent lower than it was in 2017. – VNA
VNA
