September 6, 2011

US to lower anti-dumping tax for Vietnam seafood

Vietnam's seafood exports to the US are expected to rise after the US Department of Commerce announced that it will decrease anti-dumping tax for Vietnamese seafood.

Compared to the fourth review, the department decided to lower the anti-dumping tax for Vietnam shrimps during the fifth review.

Local daily Tuo tre reported that it also slashed to zero the anti-dumping tax for Vietnamese pangasius and its byproducts in its seven reviewing.

The anti-dumping tax for shrimp products from Minh Phu Seafood Corporation (MPC) had been decreased to 1.15% from the earlier of 2.95%, from Nha Trang Seafood: to zero from earlier 4.89%, from Camimex: to 0.83% from earlier 3.92%.

Twenty-eight remaining shrimp exporters will benefit from the review the anti-dumping tax for their products has been cut to 1.04% from earlier 3.92%.

The lower anti-dumping tax will also help Vietnam's seafood exporters raise their competitiveness in the US market, said Truong Dinh Hoe, president of the Vietnamese Association of the Seafood Exporters and Producers.

In the first seven months of this year, Vietnam earned US$606 million from exporting seafood into the US compared to US$435 million in 2010. Vietnam shrimp was priced at US$10.58/kg and pangasius was sold at US$3.73/kg.