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Thursday, Feb 22, 2007
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Business Daily from THE HINDU group of publications Thursday, Feb 22, 2007 ePaper |
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Aquaculture Industry & Economy - Anti-dumping Agri-Biz & Commodities - Exports & Imports Majority of exporters may volunteer for review C.J. Punnathara
The trend Meanwhile, there has been a drastic fall in the number of shrimp exporters and export volume to the US. The number of shrimp exporters to the US fell from 258 around the time when the anti-dumping duties were announced to 128 at the time of the First Administrative Review.
The Second Administrative Review of the anti-dumping case was notified in the US Federal Register, seeking proposals for voluntary review from seafood exporters to be filed before February 28. The petitioners, the Southern Shrimp Alliance, are also expected to seek review on specific Indian shrimp exporting companies of their choice.
Fall in exports
Meanwhile, there has been a drastic fall in the number of shrimp exporters and export volume to the US. The number of shrimp exporters to the US fell from 258 around the time when the anti-dumping duties were announced to 128 at the time of the First Administrative Review and further to around 74 units when the Second Review is just about the commence. The volume of seafood exports to the US has fallen by almost 45 per cent in the last year alone, said Mr Abraham Tharakan, President of the Seafood Exporters Association of India. The US authorities are expected to announce the list of companies whose books and accounts will come up for review, ninety days from the cut-off date of February 28. Exporters who have not volunteered for the review and those whose reviews have not been sought by the US petitioners would not be eligible for any reduced anti-dumping duty that could be announced at the end of the Second Administrative Review, industry sources said.
Review expenses
But several of the smaller exporters to the US can ill-afford the huge review expenses and can expect a major dent in their balance sheet for undertaking the review. The cost for undertaking the review is huge, Mr Tharakan said. But the high level of anti-dumping duty and the huge bonds that the exporters have to execute up-front before they undertake their exports has forced most of the smaller players out of the US export market. Only the bigger companies have been able to prevail, industry sources said.
Anti-dumping duty
Meanwhile, the US Government is poised to announce the results of the First Administrative Review of the anti-dumping duty on Indian shrimp exports to the US during the first week of March. The industry expects the average anti-dumping duty for Indian shrimp exports to the US to fall from their current levels.
More Stories on : Aquaculture | Anti-dumping | Exports & Imports
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