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US slashes shrimp duty rates after first review

INDIA - The US Department of Commerce (DoC) has announced the final rates of shrimp anti-dumping duties, according to its first administrative review, which covers the period from 4 August 2004, to 31 January 2006.

The new rates range from nil to 226.62 per cent, according to the Federal Register of USA. The DoC is in the midst of conducting the second administrative review for which the mandatory respondents have already been selected, with the final result of the review being expected by 2008. There will be five such reviews, it is learnt.

For India, the weighted average duty has been slashed to 7.22 per cent from 10.54 per cent. Fifteen firms will get AFA rate of 82.30 per cent.

Last month, the DoC rescinded the anti-dumping duties for Ecuador, which spared their shrimp producers from paying duty for shipments after August 15, 2007. But, amounts owed before that remained unaffected by that decision.

In the case of Ecuador, the DoC had set a rate of 3.69 per cent for a company called Ocean Invest and 0 per cent for Promarisco because its margins fell below 2 per cent. About 19 other companies were assessed during the review and the weighted national average duty will be 3.69 per cent. The maximum duty applicable to 2 companies from Ecuador will be 35 per cent.

In the preliminary findings of the review, the rates applicable to 11 companies from Brazil had increased from 7.05 per cent to anywhere between 23.11 per cent and 349 percent. In the final announcement, the new rates applicable are in the range of 4.62-15.41 per cent only.

Source: Business Standard

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