Vietnam - the leading provider of frozen shrimp to the US Shrimp exports to the US slowed down from QIII/2014, growing 0.9% compared to the same period in 2013. Exports surged in the two previous quarters led to 51.2% year on year increase in accumulated value, which reached USD820.6 million. After rapid increases from the beginning of the year, shrimp exports to the US started to decrease from August. In September, shrimp exports from Vietnam to the US fell significantly as highest-ever antidumping tax rates applied on frozen shrimp Vietnam were announced. On 19th September 2014, US Department of Commerce (DOC) announced final results of period of review from 1st February 2012 to 31st January 2013 (POR8). Particularly, Minh Phu Seafood Corporation is subject to anti-dumping tariffs of 4.98%, Soc Trang Seafood Joint Stock Company (STAPIMEX) at 9.75% and 30 other respondents at 6.37%. VASEP is preparing to propose United States International Trade Commission (US ITC) against the method applied by DOC. However, in the short run, high anti-dumping tax rates will affect shrimp exports to the US in QIV/2014. In the first 9 months of 2014, whiteleg shrimp exports from Vietnam to the US reached USD 609.7 million, up 66% year on year while exports of black tiger shrimp was USD 199.3 million, up 19,3%. Michael Boddington from Asian Agribusiness Consulting (AAC) has been involved in agribusiness in Asia since 2000. AAC has office both in Vietnam Ho Chi Minh City and China Beijing. So AAC has a thorough understanding of the Viet Nam and China aqua industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email michael@boddingtonconsulting Source: seafood.vasep.vn/seafood/59_10307/vietnam-the-leading-provider-of-frozen-shrimp-to-the-us.htm
Posted on: Tue, 25 Nov 2014 07:24:50 +0000