India’s seafood sector is more likely to take successful with US division of commerce (USDOC) mountaineering the anti-dumping obligation on shrimp exports from India by greater than 100%.
USDOC on Wednesday issued the ultimate outcomes of the fifteenth administrative overview of the anti-dumping obligation order on frozen warm-water shrimp from India by fixing an anti-dumping obligation fee of seven.15%. It was 3.06% after the ultimate outcomes of the 14th administrative overview.
These determinations imply that US importers of Indian shrimp from corporations topic to the executive overview can be requested to pay extra anti-dumping duties on merchandise imported between February 1, 2019, and January 31, 2020, and that, going ahead, the businesses can be topic to anti-dumping obligation money deposits charges at these ranges for future shrimp imports
Frozen shrimp exports represent nearly 74.31 % of the worth of India’s complete seafood exports and the US actions might have a deleterious impact on the quite a few aquaculture farms unfold throughout coastal India. Bulk of India’s frozen shrimps is exported to the US.
Under the US Tariff Act of 1930, all tariffs come mechanically underneath overview each 5 years and the anti-dumping obligation on shrimp imports from India, China, Brazil, Thailand and Vietnam imposed from 2005 can be revoked or continued on the idea of a recent analysis.
US-based Southern Shrimp Alliance (SSA) is the unique petitioners in opposition to India and several other different nations within the shrimp import challenge. They allege that that lower-priced, pond-raised shrimps from Brazil, China, Ecuador, India, Thailand and Vietnam had been hurting the US business. The US principally harvests shrimp from the ocean.
SSA maintains that the dumping margins in administrative critiques had been decided after USDOC repeatedly chosen a tiny subset of Indian exporters for particular person examination and has allowed lots of of different Indian shrimp exporters to ship to US with confidence that their very own pricing practices is not going to be evaluated. This, in flip, has inspired many Indian shrimp corporations to extend their presence within the US market with aggressive pricing methods ,SSA reviews.
Seafood exports from India declined in each quantity and worth phrases over the last fiscal totally on account of sluggish demand attributable to Covid to $5.96 billion.