Shrimp exporters to seek US duty review

INDIA - At least 25 major shrimp exporters have decided to file review petitions before the US department of commerce (DoC) against the anti-dumping duty imposed on the Indian shrimps. The exporters include Devi Seafoods with the lowest duty of 4.94%, to Hindustan Lever Ltd (HLL) with the highest of 15.36%.

A meeting of the exporters in Hyderabad late on Tuesday, decided to rope in more exporters to the US for filing review applications. The US had imposed a 10.17% anti-dumping duty on the Indian shrimps last January.

The deadline of February 28 for filing the applications individually by companies fast approaching, was decided to have the maximum companies seek review. However, it would be an expensive affair with each company have to chip in at least $ 75,000 to file the application.

The DoC was expected to select three firms at random by March 8. "Though the normal practice is to select the three highest companies, a random selection could pose problems," the exporters said.

The export prices of the selected companies would be compared with that of the price to a third country based on which the new duty would be decided. The average of these three companies would be the duty for other exporters from here.

Source: Financial Express