The U.S. International Trade Commission (USITC) has decided to maintain antidumping duties on shrimp from India, China, Thailand, and Vietnam in its latest five-year review, according to a 1 June notification.
All five USITC commissioners voted to support the continuation of the antidumping orders.
“The U.S. International Trade Commission (USITC) today determined that revoking the existing antidumping duty orders on frozen warmwater shrimp… Read More
Authorities in Thailand and South Korea have taken action against a Korean fishing vessel suspected of engaging in illegal, unreported, and unregulated (IUU) fishing.
On 9 March, police in Bangkok, Thailand prevented South Korea-flagged Sun Flower 7 from unloading more than 4,000 metric tons (MT) of tuna worth an estimated THB 250 million (USD 7.4 million, EUR 6.8 million).
On 10 May, South Korea’s Ministry of Fisheries subsequently fined… Read More
Thai Union saw a decline in its total profits in the first quarter of 2023, despite a surprise boost from Red Lobster.
Profits fell mainly due to the lower sales combined with high tuna and salmon prices resulting in softer demand, according to Thai Union’s quarterly report, released 3 May.
Red Lobster, which Thai Union acquired in 2020, contributed a profit of THB 20 million (USD 590,700, EUR 535,120) to Thai Union’s bottom linein… Read More
Vietnam’s seafood trade association is complaining its members are facing unfair trade barriers in its exports of shrimp to South Korea.
In a letter sent to Vietnam’s Ministry of Industry and Trade in mid-March, the Vietnam Association of Seafood Exporters and Producers (VASEP) said despite the Vietnam-South Korea free-trade agreement (FTA), which entered into force in December 2015, South Korea has maintained a quota and tariff… Read More
Vietnam has transformed itself into a middle-income country, with its gross domestic product growing 8.02 percent in 2022, the fastest annual pace since 1997.
According to a 2021 report from McKinsey Global Institute, 75 percent of Vietnam’s population of approximately 100 million people will spend at least USD 11.00 (EUR 10.20) a day by 2030, up from 40 percent in 2021 and less than 10 percent in 2000. Achieving that spending… Read More
Dealing with an inflation-ravaged global economy, Vietnamese seafood exporters have not received what they expected to be a major boost from the reopening of China thus far in 2023.
After achieving an all-time record value of USD 11 billion (EUR 10.2 billion) in 2022, Vietnam’s seafood exports have stalled thus far in 2023. In February, Vietnam shipped seafood worth USD 610 million (EUR 565.8 million), up 33.4 percent from January. The… Read More
Hyderabad, India-headquartered Avanti Feeds, one of India’s top shrimp-feed producers, has acquired 100 percent of Srivathsa Power Projects, which operates a 17.2-megawatt natural gas-based power plant in the state of Andhra Pradesh.
Avanti Feeds, which already owned 49.9 percent of Srivathsa Power Projects, purchased the remaining 50.1 percent, or 16.7 million shares of the firm on 28 March, at a price of INR 2.30 (USD 0.02, EUR 0.03) per… Read More
The government of India, the world’s third-largest fish producer, second-largest aquaculture producer, and fourth-largest seafood exporter, has plans to become an even bigger seafood player.
India's seafood exports have been on an upward trajectory, with a compound annual growth rate (CAGR) of 17.2 percent between 2016 and 2021. Its export value more than doubled to USD 6.68 billion (EUR 6.3 billion) in fiscal year 2020-2021, from USD 2.9… Read More
The U.S. Department of Commerce will likely not impose any antidumping duty on shrimp Thai Union imports into the United States from Thailand.
According to the preliminary results of its 17th administrative review of the antidumping duty order on frozen warmwater shrimp from Thailand, the U.S. DOC said it did not find evidence Thai Union sold its shrimp into the U.S. at less than fair value.
The Thai Union group of companies, which includes… Read More
The U.S. Department of Commerce (DOC) plans to continue to impose a 3.76 percent tariff on 185 Indian shrimp exporters, following the preliminary results of its 17th administrative review of the antidumping duty order on frozen warmwater shrimp from India.
The review investigated frozen shrimp sales into the U.S. by 187 exporters from India between 1 February, 2021 and 31 January, 2022.
In its preliminary conclusion, the DOC said some frozen… Read More