US To Continue Dumping Duty On Indian Shrimps.

The US International Trade Commission has decided that revoking anti-dumping duty on shrimp imports from India would be injurious to the US seafood industry. The decision to continue with the anti-dumping duties came at the end of the sunset review which commenced on January 4, 2010. According to the US law, the US Department of Commerce is mandated to initiate the sunset review just before the fifth anniversary of the initial imposition of the duties.

The Seafood Exporters Association of India, the nodal body for seafood exporters from India, has been fighting against the imposition of anti-dumping duty since February 2005, when these duties were first introduced. Reacting to the decision of the sunset review, sources in SEAI said that the continuing imposition was unwarranted and would harm India’s $2 billion seafood exports. However, through successive administrative reviews, the anti-dumping duties imposed on Indian shrimp have been coming down from as high as 10.17% in 2005 to 1.69% currently. With the falling trend in anti-dumping duties, seafood exports to the US Have been picking up. The US was the second biggest seafood export destination during the first 9 months of the current fiscal, accounting for 17.43% of the total value.

Source : fnbnews.com