Anti-dumping duties on Vietnamese shrimp imported into the US have been reduced to 0.91%.

The anti-dumping duty 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 Processing and Export (Vasep) announced that on September 7th, the US Department of Commerce (DOC) released the final results of the 9th administrative review (POR9) of anti-dumping duties on frozen shrimp imported from Vietnam for the period from February 1, 2013 to January 31, 2014. Accordingly, the average duty rate of 0.91% has decreased compared to the preliminary result of 0.93% announced in March 2015 and is a significant reduction from the 6.37% rate of the previous review (POR8).

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

The anti-dumping tax on frozen shrimp imported into the US has been reduced to 0.91%. (Photo: Vasep)

One of the key factors contributing to this reduction in tariffs compared to the previous one is that the DOC based its cost calculations on relevant data from three countries: Bangladesh, India, and Indonesia.

Thus, with the POR9 tariff rate significantly reduced compared to POR8, it is predicted that Vietnam's shrimp exports to the US will improve in the remaining months of the year, after a decline of over 50% in the first eight months.

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

In the first eight months of 2015, Vietnam's shrimp exports to the US reached approximately $370 million, continuing to decline sharply due to price and supply competition from India and Indonesia.

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

According to Labor