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US slashes shrimp import duty

INDIA - Indian marine exports to the US will get a boost as the US Department of Commerce (DoC) has reduced the anti-dumping duty on shrimps by 3.32 per cent.

 The weighted average duty now stands at 7.22 per cent. Shrimp exporters will now get a substantial duty refund as the revised structure is applicable for the period between August 2004 and January 2006.

The US department had in March fixed the anti-dumping duty at 10.54 per cent after completing the first administrative review, posing a serious threat to Indian shrimp exports to the US.

The department is now reviewing the anti-dumping duty for the period after January 2006. Shrimp exporters believe that the ongoing second administrative review of the department would lead to the withdrawal of the duty.

Among the major exporters, Falcon Marine will pay an anti-dumping duty of 4.39 per cent (the earlier recommendation was 11.09 per cent), Hindustan Lever will pay 18.83 per cent (24.52 per cent) and the Liberty Group will pay 4.03 per cent.

Forty-six other companies will have to pay an average 7.22 per cent duty. According to marine exporters, the companies will get refund of the duty according to the revised rates.

Source: Business Standard

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