US govt cuts anti-dumping duty barrier on shrimp imports from India
The reduction in anti-dumping duty by the US government on import of frozen shrimps from India is likely to boost exports, say exporters. “The final average duty is fixed at 2.2 per cent. The preliminary duty finalised earlier was 4.98 per cent. The reduction will open up opportunities for small exporters, too,” said Ajay Dash, president, Seafood Exporters Association of India, Odisha region. Our association is trying for a review, to make it zero for exporters, Dash added.
America is the major importer of Indian seafood, with 28.5 per cent in terms of dollars. They took $1.33 billion in 2015-16, up 18.5 per cent in quantity but down 8.5 per cent in dollar value and a decline of 2.2 per cent in rupee terms. “Frozen shrimp continued to be the principal item exported to USA, with 94 per cent in dollar value. Export of Vannamei shrimp rose 22.5 per cent in quantity but dropped by 5.3 per cent in dollar terms. Similarly, export of Black Tiger shrimp improved by 6.6 per cent in quantity but decreased by 30.3 per cent in dollar earnings,” went a recent official statement.
USA is India’s largest market (134,144 tonnes) for frozen shrimp, followed by the EU (81,849 tonnes), Southeast Asia (65,188 tonnes), Japan (34,204 tonnes), West Asia (17,477 tonnes) and China (9,542 tonnes) and others (31,464 tonnes).
Source : Business Insider