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US lowers anti-dumping duties for VN seafood
The US Department of Commerce (DOC) has announced its fifth administrative review on Vietnamese frozen shrimp exports to the US under which it will impose lower anti-dumping tariffs on more than 30 Vietnamese exporters.
According to DOC’s final result of the review for the period between February 1, 2009 and January 31, 2010 (Period of review - POR 5), tax rates were lowered from 2.95 percent to 1.15 percent for Minh Phu Co, 3.92 percent to 0.83 percent for Camimex and 4.89 percent to zero for Nha Trang Seafood.
Another 28 exporters were imposed a new rate of 1.04 percent from the 3.92 percent slapped in the previous administrative review.
Truong Dinh Hoe, general secretary of Vietnam Association of Seafood Exporters and Processors (VASEP), said the new tariffs would help boost the competitiveness of Vietnamese frozen shrimps in the US as other rivals were enjoying low duties.
Meanwhile, according to the preliminary result on the seventh administrative review of Vietnamese catfish exports to the US during the period between August 1, 2009 and July 31, 2010 (POR 7), Vinh Hoan Co is likely to become Vietnam’s first seafood company to be exempted from the US anti-dumping tariffs.
Vinh Hoan’s spokesperson said the company was imposed a zero tax rate in the two previous reviews (POR 5 and POR 6).
If tariffs for Vinh Hoan remained zero in the final result of POR 7, which would be announced next March, the company could file a dossier to be cleared of dumping charges, he said.
Under DOC’s regulation, the firms that bear three consecutive rates of zero percent will be exempt from anti-dumping taxes the following year.
The POR 7 also showed that anti-dumping tariffs for other catfish exporters were around 15 percent.
VASEP said the rising export prices had resulted in lowered anti-dumping tariffs for Vietnamese exporters in the latest administrative reviews.
To calculate the dumping margins, the US compared Vietnamese exporters’ prices with the reference prices from other similar markets.
VASEP said frozen shrimp export prices in the first seven months of this year rose by US$1.05 a kg over the same period last year, while catfish also enjoyed a 20 percent increase, fetching $3.73 a kg.
Hoe said local exporters can get rid of the anti-dumping lawsuits by increasing their export values or by hiking prices.
In early July, Vietnam scored a victory in the anti-dumping case against the US, and VASEP has sought the government’s go-ahead for a second lawsuit on the fourth administrative review to completely exempt Vietnamese frozen shrimps from US anti-dumping duties.
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