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Vietnam shrimp exports to US projected to rise in H2

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By Milthon Lujan

Vietnam.- Continuing the downward trend in QIV/2016, Vietnam’s shrimp exports to the U.S in the first two quarters of 2017 decreased by 7.5% to reach US$276.4 million. The figure as of 15th July 2017 was US$306.5 million; down 5.3% over the same period in 2016. Due to the reduction in its imports, the U.S slipped to the 4th rank and Japan replaced to rank the 1st in top Vietnam shrimp importers.

Vietnam’s shrimp shipments to the U.S in the first half of this year tended to go down due to an increase in anti-dumping duties in the preliminary decision of DOC’s 11th administrative review (POR11).

According to the U.S. Department of Agriculture (USDA) data, in 2016, the U.S imported 605,711 MT of shrimp, worth by US$5.7 billion; increasing by 3% in volume and 4% in value compared to 2015. In the first six months of 2017, the U.S continued to increase imports of shrimp with the volume of 287,255 MT, worth by US$2.8 billion; up 9% in volume and 15% in value year on year.

Most of shrimp products imported into the U.S were frozen raw shrimp meat (HS code 0306170040). India was the largest supplier of this item to the market, followed by Indonesia and Vietnam.

Imports of processed frozen shrimp meat (HS code 1605211030) took up the second largest share to the U.S. Thailand was the biggest supplier, followed by Vietnam and Indonesia.

In the first half of 2017, Vietnam claimed as the 5th rank in top leading suppliers of shrimp to the U.S, representing 9%; behind India (30.5%), Indonesia (20.5%), Thailand (11.5%) and Ecuador (10.8%).

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Vietnam, India, Thailand, Indonesia and Ecuador were the main exporters of shrimp to the U.S in the first months of this year and most countries were subject to anti-dumping duties. However, Vietnam shrimp had to compete strongly with other suppliers due to high anti-dumping duty that the U.S imposed on Vietnam shrimp.

In spite of high anti-dumping tax, however, thanks to a rise in U.S’ shrimp demand in the second half of this year, Vietnam’s shrimp exports to the market expected to go up over the same period last year.

Source: VASEP

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