Page 4 - Shrimp Exports

Shrimp exporters to move US trade body for full waiver of anti-dumping duty

The India seafood exporters will move the United States International Trade Commission (USITC), a quasi-judicial federal agency with broad investigative responsibilities on matters of trade, for complete waiver of anti- dumping duty after five years.Recently, the commission had voted against revoking the existing antidumping duty orders on imports of frozen warm water shrimps from India jolting the 4.7 billion dollar seafood industry here.It also voted to extend the anti-dumping orders on shrimp imports for five more years on shrimp from China, India, Thailand and Vietnam."US will review the duty every year and finalise a rate. We will again move to USITC after five years for the sunset review", said Tara Patnaik, chairman, Falcon Marine Exports Ltd, country's largest exporter.USA is the largest importer of Indian seafood with a share of 28.46 per cent in terms of USD. The total exports to USA stood at $1334.05 million in 2015-16.The recent order of USITC of continuation of duty was ..

Marine exporters optimistic on removal of duty on US-bound shipments

Seafood exporters are optimistic about the removal of anti dumping duty by the World Trade Organisation (WTO) on the shrimps exported to United States, the largest market for Indian marine products.The anti dumping duty was imposed on Indian frozen warmwater shrimps since 2004-2005 . The levy was for five years. In the fifth year, a 'sunset review' was initiated by DOC (department of commerce) of the US government.As per reports , the DOC will conduct the sunset review to determine whether duties can be withdrawn or should be continued for another five years.The DOC had extended the levy on Indian shrimps for another five years after the completion of first five year term of the antidumping duty."US did not repeal the duty on Indian frozen water shrimps in the first five year which was further extended to another five years. India along with China , Vietnam moved to World Trade Organisation for repeal of the duty", said an official in the know.The rate of duty is fixed by the ...

US cut in anti-dumping duty on shrimps to boost exports

The United States, the largest importer of Indian shrimps, has pegged its preliminary anti-dumping duty on the perishable item at an average rate of 1.07 per cent.The US commerce department has announced the preliminary determinations in the ongoing 11th administrative reviews of the anti-dumping duty orders against frozen warm water shrimp from India and Thailand. The period of review (POR) was February 1, 2015, through January 31, 2016. The new rate applies to 229 Indian producers/exporters not selected for individual examination, sources said.Meanwhile, the review-specific average duty in the 11th round was lower from the final tenth review rates, exporters said. The final duty for 2014-15 was 2.20 per cent. "Because of the duty being lowered, a lot of major exporters will stand to get duty refunds which will be a big boost for the exports", said Rajen Padhy, director general of Utkal Chamber of Commerce and Industry and a seafood consultant.USA is the major importer of Indian ...

US detention of Indian consignments may hurt shrimp exports

USA is the major importer of Indian seafood with a share of 28.46 per cent in terms of US dollar

Despite high demand of shrimps, exporter margins under pressure

While the Indian aquaculture industry has benefitted from the slowdown in production in countries like China, Vietnam and Thailand, the major global suppliers of shrimp, high demand has also induced a rise in farmgate prices. At the same time the average international prices are more or less stable as most importers tend to hold few months inventory; and this has put the margins of Indian exporters under pressure. As per industry estimates, margins have shrunk by about 6-7 per cent on an average. T R Patnaik, promoter of one of the leading shrimp exporters from India, Falcon Marine Exports Ltd admitted that margins of exporters are under pressure. Patnaik, who is also the vice president of the Seafood Exporters Association of India, however, also added that margins, however, depend on how well one manages his business. Ramakanth V Akula, CEO of The Waterbase Ltd too admitted that there is indeed some margin pressure for exporters. "Most exporters have contractual obligations. There is

US hikes anti-dumping duty on Indian shrimps, exports may fall

The preliminary average duty has been increased to 4.89% in the 10th annual review of dumping duties, compared to 2.96% in the ninth review

Growth of shrimp exports may shrink to single digit this fiscal

Shrimp exports account for 67% of marine exports from India in terms of value