30 Vietnamese enterprises exporting shrimp to the US enjoy 0% tax (26-08-2019)
On August 21, the US Department of Commerce (DOC) announced the results of the 13th administrative review (POR 13) on anti-dumping tax on Vietnamese shrimp to the US with a tax rate of 0%.
Accordingly, the tax rates of two mandatory defendants (Sao Ta Food Joint Stock Company and Nha Trang Seafood Joint Stock Company) are 0%. About 30 other Vietnamese shrimp enterprises, voluntary defendants, have applied for consideration of separate tax rates or pledged having no shipments to the US in the period of February 1, 2017- January 31, 2018 also declared to enjoy 0% tax rate. Earlier, in the preliminary announcement of the POR 13 tax period in April, the DOC also set a similar tax rate to the conclusion that these enterprises did not dump shrimp into the US. This conclusion shows the honesty in the business of Vietnamese shrimp enterprises and is the best result in 13 administrative considerations on Vietnamese anti-dumping tax on US shrimp. This good news came shortly after Vietnam Association of Seafood Exporters and Processors (VASEP) announced positive export figures for the first 7 months of shrimp, bringing positive expectations for this fishery items.
In the first 7 months of 2019, Vietnam shrimp export reached US$ 1.8 billion, down by 8% compared to the same period in 2018. But considering in July only, this is the first time in the year that shrimp export reached positive growth with US$ 334 million, up 13.4% over the same period last year. Notably, shrimp exports to China and the US grew by 2 digits, while EU and Korean markets also recorded the first month of positive growth. According to VASEP, shrimp exports to the US and China in July increased sharply over the same period in 2018, reaching US$ 77 million and US$ 51.6 million, respectively, because these countries reduced imports from other sources. In particular, India - a large shrimp exporting country for these two markets also forecasts to reduce production due to bad weather conditions and epidemics. Currently, most seafood stocks tend to grow well. VASEP judged that the demand for shrimp market is becoming more active, forecasting that in the last months of the year, it will continue to grow well.