May 23, 2005

Thai shrimp exporters cry foul over US export ruling

Thailand's shrimp exporters are now suffering under the increased deposit required for exports to the US, said the country's deputy minister of agriculture and cooperatives, Newin Chidchob.

On top of a previous anti-dumping tariff ruling, Thai shrimp exporters now have to content with depositing an amount equal to the total value of the company's annual exports, said Newin. 

Previously, exporters were required to pay the deposit each time the export was shipped. Washington's new rule has pushed up the exporters' costs on top of the increase in the wholesale price of shrimps from the Thai farmers.

The Thai Frozen Food Association and four other shrimp associations have called on the agriculture ministry for additional financing and government support for the country's shrimp exports.