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Shrimp exporters offer cut to escape US dumping review

INDIA - When hardly a week left for the US department of commerce (USDoC) to announce the mandatory respondent firms for administrative review of the anti-dumping duty on Indian shrimp, 10 more major exporters have gone in for &quot;settlement&quot; with the Southern Shrimp Alliance (SSA) to escape the review. </b> <br><br> Following Devi Seafoods, which accounts for 8.14% of the shrimp exported to the US during the period of review, leading in breaking rank and entering into an &quot;out-of-court settlement&quot; with the petitioners, 10 more companies are learnt to have struck deals &quot;offering to pay the petitioners a percentage of the export for not pressing the review.&quot; This would enable them to continue trade at the present national average of 10.17% duty and would also let them get back amounts for the customs bonds worth crores. <br><br> While 103 companies had exported 55,248 tonne of shrimp during the review period of 18 months ended January 2006, 21 companies accounting for over 60% of the export had sought voluntary review of the duty. Of them, 10 accounting for over 32% of the exports have now gone in for the settlement. <br><br> <i>Source: The Financial Express</i>

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