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17 September 2009

US cuts duty on Vietnamese shrimp exports

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The US Department of Commerce has lowered anti-dumping tariffs on imported shrimp from three Vietnamese firms to less than 1 percent, according to the Vietnam Association of Seafood Exporters and Producers, reported.

The tax reduction is the result of the US department’s third review of anti-dumping tariffs imposed on frozen Vietnamese shrimp between February 2007 and January 31 last year.

As a result of the decision, shrimp exported to the US by Vietnam’s Minh Phu Seafood Corporation, the Camau Frozen Seafood Processing Import-Export Corporation, known as Camimex, and the Phuong Nam Seafood Company will attract anti-dumping taxes of between 0.08 percent and 0.43 percent.

The latest review may mean the companies receive a refund on some of the dumping duties paid, Vietnam Association of Seafood Exporters and Producers announced last Tuesday.

The review decided to leave the anti-dumping tariffs of 4.57 percent on shrimp from 22 Vietnamese exporters unchanged. The rate of 25.76 percent applied to some other Vietnamese shrimp imports will also remain.

Dumping is defined as the export of items at either below cost or below the price charged in the home market. The US has applied anti-dumping duties of as much as 26 percent on Vietnam’s frozen shrimp since 2003.

Vietnam’s shrimp exports to the US generated $147.3 million in the first half of this year, up 2.1 percent from the same period last year.



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