September 8, 2008

India wants the US to end its anti-dumping measure as soon as possible so that the Indian shrimp sector may be relieved of the extra financial burden.

The WTO ruled in August that the US measure, which required imports of shrimp to pay cash bonds, was illegal and violated international trade practices. In reply, the US said it required a "reasonable period of time" (RPT) for corrective measures.

However, a WTO statement said India is disappointed at the US request for RPT, as the Indian shrimp industry continues to face a heavy financial burden on its exports due to the US anti-dumping measure.

Thailand, another party in the dispute, said it would hold talks with the US soon for an RPT to ensure prompt implementation of the WTO ruling.

Frozen shrimp is India's largest marine export item, making up 54 percent in value terms. Shrimp exports value to the US plunged by 37 percent in 2006/07 to US$99.28 million from US$158.12 million in the previous fiscal.

"Although the US has decreased its anti-dumping duty to 1.69 percent from 14 percent on shrimp exports, we want it to be brought down to zero," Seafood Exporters Association of India president Anwar Hashim said.    

The US is the largest market for Indian shrimps followed by Japan, he said.