March 4, 2008

 

Vietnam attains zero tax status on US-bound shrimp exports

 

 

At least 29 Vietnamese companies will be fully relieved of tax for their shrimp exports to the US, as the US Department of Commerce (DOC) released its preliminary conclusion on Vietnam's warm water frozen shrimp. 

 

The Vietnam Association of Seafood Exporters and Producers (VASEP) said the DOC agreed to impose zero tax on 29 Vietnamese companies including Minh Phu; CAMIMEX; Amanda Foods; CP Vietnam; CADOVIMEX; Cafatex and CATACO.

 

However, the announcement was only a preliminary conclusion, and the final decision will be disclosed by DOC 120 days after the preliminary conclusion.

 

Currently, the average anti-dumping tax rate on Vietnam's products is 25.76 percent.

 

Vietnam exported US$252-million worth of seafood in February 2008, raising the total seafood export turnover in January to February at US$551 million, an increase of 30 percent on-the-year.

 

Vietnam's Ministry of Agriculture and Rural Development (MARD) reported that shrimp processing workshops in Cuu Long River Delta like in Ca Mau, Bac Lieu and Soc Trang provinces, have only been operating at 30 percent of capacity due to steep shortage of black tiger shrimp materials.

 

Prices for black tiger shrimp once hit VND160,000 per kilogramme (US$10).