US slashes anti-dumping duties on Vietnamese seafood (SOM)

The US Department of Commerce (DOC) has announced that the average anti-dumping tariff applied to shrimp products exported by 29 Vietnamese companies will decrease from 4.57 percent to 2.89 percent.

The anti-dumping duty reduction result from the fourth administrative review conducted by the DOC from February 1, 2008 to January 31, 2009.

The Vietnam Association of Seafood Exporters and Producers (VASEP) cited the DOC’s report as saying that the Minh Phu Seafood Company, one of the two compulsory defendants in the anti-dumping lawsuit, is subject to the highest tax of 3.27 percent, while the remainder, the Nha Trang Seafood Joint Stock Company, bears the lowest level, at 2.5 percent.

VASEP General Secretary Truong Dinh Hoe said the anti-dumping tariffs are adjusted every year based on the prices of shrimp exports to the US during that year and the dumping range applied to each company is calculated on the basis of the average dumping band of compulsory defendants.

According to the official, the anti-dumping tariffs will come into force when the US makes its final decision 90 days after the fourth review’s preliminary results were announced.

Director of the Nha Trang Seafood Company Ngo Van Ich said he hoped that the duties will be slashed to the lowest level, possibly to 0 percent, when the US makes its final decision, as the tariff already dropped 2.07 percentage points between the DOC’s third and fourth administrative reviews.

Meanwhile, four other seafood exporters – QVD, Vinh Hoan, SAMEFICO and Cadovimex II – are likely to enjoy a zero percent tariff for their frozen ‘tra’ fillet exports to the US.

The DOC made the decision after it conducted an administrative review, the fifth of its kind, of Vietnam’s ‘tra’ fillet exports to the US market from August 1, 2007 to July 31, 2008. VASEP Vice Chairman Nguyen Huu Dung said this is only a preliminary decision and the DOC will set out its final decision after four months.

Currently, the DOC is still imposing an average anti-dumping duty of US$0.02 per kg of ‘tra’ fillet exported by the An Giang Seafood Import-Export Company (Agifish) and East Sea (ESS JVC) and another 2.11 US$ per kg for the products shipped by other companies.

Tags: Vietnam Seafood, Vietnam seafood export to US, Vietnam seafood exports, Vietnam seafood sector