Anti-dumping tax on Vietnamese shrimp to the US is now 0.91%

The anti-dumping tax rate on frozen shrimp imported from Vietnam has decreased compared to the preliminary result of 0.93% announced in March 2015.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that on September 7, the US Department of Commerce (DOC) announced the final results of the ninth administrative review (POR9) of anti-dumping duties on frozen shrimp imported from Vietnam from February 1, 2013 to January 31, 2014. Accordingly, the average tax rate of 0.91% has decreased compared to the preliminary result of 0.93% announced in March 2015 and decreased sharply compared to the tax rate of 6.37% of the previous review period POR8.

Among the three mandatory respondents, Minh Phu Seafood Corp has the highest rate of 1.39%, down from the preliminary result of 1.5%, Thuan Phuoc Corp has a rate of 1.16%, slightly higher than the preliminary result of 1.06%, and Fimex VN is 0%. The tax rate for the other 32 voluntary respondents is 0.91%. The general tax rate applied nationwide is 25.4%, down from 25.76% in POR8.

Anti-dumping tax on frozen shrimp imported into the US is still 0.91%. (Photo: Vasep)

One of the main factors that helped reduce the tax rate compared to the previous time is that DOC relied on appropriate data from three countries: Bangladesh, India and Indonesia to calculate the cost.

Thus, with the POR9 tax rate sharply reduced compared to POR8, it is predicted that Vietnam's shrimp exports to the US will improve in the last months of the year, after a decrease of over 50% in the first 8 months of the year.

In 2014, shrimp exports to the US increased sharply from the first months of the year and began to decline from September after the US announced the final results of POR8 with the highest tax rate ever at 6.37%.

In the first 8 months of 2015, Vietnam's shrimp exports to the US reached about 370 million USD, continuing to decrease sharply due to competitive pressure on price and supply with India and Indonesia.

The US is currently Vietnam's largest shrimp import market, accounting for over 20% of Vietnam's shrimp exports. In 2014, shrimp exports to the US reached over 1 billion USD./.

According to Labor