The Hindu Business Line : Even as threat of Washington levying dumping duty looms

THE year has commenced on a mixed note for the shrimp exporters. The anti-dumping issue by the US that looms in the background has sparked hectic buying by the US importers who hope to beat any preliminary levies.

The other major buyer Japan has commenced purchases after staying away most of last year. There have been some enquiries from the EU.

But the trend will be clearer next week. The market, which resumed on Thursday after the yearend vacations, has started on a buoyant note, say trade sources. However, January and February being the slack season, raw material availability is low and prices range around Rs 280 a kg of 30 counts black tiger shrimp. This is aboutRs 50 higher than the prices at the close of season last December.

With the possibility of an anti-dumping duty on imports from India, the US importers are actively picking up stocks to beat any preliminary duty that may be levied 70 days after the petition, which was filed on December 31, 2003. The importers hope to make as many shipments by the end of this month or early in February.

Black tiger shrimp prices have increased by about 50 cents a pound to around $4.90 for 16/20 counts. Prices could cross $5 in a day or two, sources say.

Some of India's leading exporters are working out a common format of the costing to make their representation to the US authorities, who may want to check the figures.

The Indian Trade Commission has circulated a copy of the US industry's petition and the questionnaire that will have to be filled out by the exporters.

There are five companies named in the petition by the US industry, one of which is based in Mumbai, two in Visakhapatnam, one each in Chennai and Orissa.

Though Japan is yet to commence steady purchases, one or two contracts have been concluded at $10.80 a kg for 16/20 counts.

They are likely to continue with the purchases next week, they say.

There have been some enquiries from the EU but prices have not been concluded. Some contracts are expected next week.

On the anti-dumping duty dispute with the US, exporters feel that India is not likely to be the main target. China, which has been supplying stocks at average prices of about $1.20, could attract some tough penalties.

The average prices by Indian exporters have been in the range of about $5 a pound.

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