Shrimp export to US sees growth

Hanoi, July 21 (VNA) – Vietnamese shrimp exports to the US expanded 17.4 percent to reach 249.3 million USD in the first five months of the year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The figure allowed Vietnam to surpass Ecuador to rank 4 th among the five largest shrimp exporters to the US, providing 12.4 percent of the country’s shrimp imports. Indonesia topped the list of the US’s biggest shrimp exporters with 22.3 percent of the market share, followed by India with 20.9 percent and Thailand 13 percent. Of the total Vietnamese shipments, white-leg shrimps accounted for 70 percent while giant tiger prawns made up of 27 percent. Vietnam and the US signed an agreement related to antidumping duty over shrimp imported from Vietnam on July 19. Accordingly, the two sides reached bilateral solutions to settle the two long-lasting World Trade Organisation (WTO) disputes over imports of Vietnamese shrimp to the US, in which Vietnam sues the US for violating WTO regulations when imposing antidumping duty on Vietnamese shrimp. Earlier on May 20, at Vietnam’s request, the US Department of Commerce began administrative procedures to carry out the WTO dispute findings. As a result, a Vietnamese exporter of frozen warm water shrimp – Minh Phu Group – will no longer be subject to the antidumping duty order. In addition, duty deposits will be refunded to the Minh Phu Group. The antidumping duty order will, however, remain in place for all other exporters of warm water shrimp from Vietnam. In 2015, Vietnamese shrimp exports to the American market stood at 657 million USD, dropping 38.3 percent from 2014 due to decreasing export prices, weak demand and fierce competition from foreign rivals. In 2015, Vietnamese shrimp was sold in 92 markets, down from 150 markets the previous year. Key markets included the US, Japan, the EU, China, the Republic of Korea, Canada, Australia, ASEAN and Switzerland./.