Socialist Republic of Vietnam

The prices of raw shrimp in Vietnam have risen following the recent U.S. Department of Commerce (DOC) decision to reduce penalty tariffs on shrimp imports from Vietnam, said a Vietnamese seafood producers group.
Vietnam’s shrimp exports to the American market will likely increase again as a result of the tariff reduction, predicted Mr. Luc, and shrimp prices will possibly continue rising into early next year, he added.

On Nov. 30, the DOC upheld the imposition of penalty tariffs on shrimp imports from Vietnam, saying the country had sold shrimp to the U.S. at below-market prices. However, the DOC did lower its anti-dumping tariffs of 12.11 to 93.13 per cent from its July preliminary ruling to 4.13 to 25.76 per cent.

In the Mekong Delta region, the prices of raw shrimp shot up 5,000 to 10,000 VND per kilo as domestic producers resumed business transactions with U.S. importers, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

During the case when Vietnam’s shrimp industry was being threatened by high anti-dumping tariffs to the U.S., other shrimp importers from Japan and the European Union were allegedly taking advantage of the situation to request lower shrimp prices from Vietnam, said VASEP.

But with the DOC’s low anti-dumping tariffs, Vietnam shrimp exports to the U.S. is stable and these other importers can no longer allegedly push down prices of shrimp like before, said Ho Quoc Luc, VASEP chairman.

Source: Saigon Giai Phong newspaper – Compiled by Hieu Trung.
Story from Thanh Nien News
Published: 06 December, 2004, 22:13:29 (GMT+7)
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