US slaps higher anti-dumping duties on 33 Vietnamese shrimp exporters

October 24, 2014

An eFeedLink Exclusive

September proved to be a stable month for Vietnamese shrimp with prices hardly showing any movement. However, shrimp prices are expected to be impacted by the US Department of Commerce's announcement of anti-dumping duties for more shrimp exporters.

Prices of giant tiger prawn remained generally stable in September, with only the price for the 20pcs/kg size increasing by VND1,000 (US$0.047) per kilogramme from last month's price.

Price of giant tiger prawn in Ca Mau (Expressed in VND 1,000/kg)
Category (pcs/kg)	Aug 29	Sept 05	Sept 12	Sept 19
20	289	290	290	290
30	230	230	230	230
40	195	195	195	195
*VND1,000=US$0.0474 as of Aug. 22, 2014 Source: Casep (Ca Mau Association of Seafood Exporters & Producers)

Just like the giant tiger prawn, the prices of white leg shrimp were unchanged in September.

Price of white leg shrimp in Ca Mau (expressed in VND1,000/kg)
Category (pcs/kg)	Aug 29	Sept 05	Sept 12	Sept 19
60	137	149	149	149
70	133	143	143	143
80	128	135	135	135
90	119	125	125	125
100	115	120	120	120
*VND1,000=US$0.0474 as of Aug. 22, 2014 Source: Casep (Ca Mau Association of Seafood Exporters & Producers)

Market Analysis

Shrimp prices were stable in September but were higher by around 5% than the previous month and by 18%-20% year on year.

Seafood volume in the first nine months was estimated to reach 2,495,000 tonnes, up 5% year on year, of which shrimp accounted for 449,000 tonnes, up 18% compared with the same period last year.

More farmers are ditching the tiger giant prawn in favour of the white leg shrimp, which gives them more profit. As a result, the giant tiger prawn farming area in the first nine months decreased 7.8% year on year to 525,000 hectares. Volume of produce went down to 247,000 tonnes, or a decrease 3.9% from last year.

On the other hand, the white leg shrimp farming area in the first nine months increased to 85,000 hectares, up 68.9% from last year. Volume was up 45% to 247,000 tonnes. These provinces particularly produced high volumes of white leg shrimp: Soc Trang--45,000 tonnes, up 28.7%; Ben Tre--34,000 tonnes, up 52.3%; Ca Mau--29,000 tonnes, up 169%; Tra Vinh--17,000 tonnes, up 209%; and Bac Lieu--15,000 tonnes, up 166%. Farmers in these provinces, were educated on raising techniques.

Market Forecast

For 2014 total shrimp volume is expected to hit 812,000 tonnes, or 12.3% higher than that of 2013.

As of end-August, the US Department of Commerce officially announced new tax rates for imported Vietnamese shrimp:

Company		Tax rate
	Minh Phu Group		4,98%
	Stapimex		9,75%
	BIM Seafood Joint Stock Company		6,37%
	Camimex		6,37%
	C.P. Vietnam		6,37%
	Cadovimex		6,37%
	Cafatex Corp		6,37%
	Camau Seafood Processing and Service Joint Stock Company		6,37%
	CAFISH		6,37%
	COFIDEC		6,37%
	Cuulong Seapro		6,37%
	Seaprodex Danang		6,37%
	Gallant Ocean (Vietnam) Co., Ltd		6,37%
	Hai Viet Corporation		6,37%
	Incomfish Corp		6,37%
	Kim Anh Co, Ltd.		6,37%
	Minh Hai Jostoco		6,37%
	Seaprodex Minh Hai		6,37%
	Seaprimexco		6,37%
	Nha Trang Fisco		6,37%
	Nha Trang Seafoods		6,37%
	Phu Cuong Jostoco Seafood Cmp		6,37%
	Phuong Nam Co., Ltd.		6,37%
	Quoc Viet Seaproducts Processing Trading and Import-Expmt Co., Ltd.		6,37%
	Fimex VN		6,37%
	Thong Thuan Company Limited		6,37%
	Thuan Phuoc Corp		6,37%
	UTXICO		6,37%
	Viet Foods Co., Ltd		6,37%
	Vina Cleanfood		6,37%
	Vietnam Fish One Co		6,37%
	Viet I-Mei Frozen Foods Co., Ltd.		6,37%
	The rest of country		25,76%

Following this announcement, shrimp prices were forecast to be impacted in October.

Video >

Follow Us

About Us

Company Profile

Our Team

Our Products & Services

Subscription

eNewsletter

Inquiry

Contact Us

Advertise With Us

Partner With Us