Financial Daily from THE HINDU group of publications
Thursday, Nov 03, 2005
Financial Daily from THE HINDU group of publications Thursday, Nov 03, 2005 |
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Agri-Biz & Commodities
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Aquaculture Industry & Economy - Anti-dumping US decision on anti-dumping duty on Indian shrimp before weekend Our Bureau
Kochi , Nov. 2 THE US-based International Trade Commission will decide whether to revoke the anti-dumping duty imposed on Indian shrimp exports to the US after undertaking a Changed Circumstances Review. The commission decided to conduct the review after the December 26 tsunami, which destroyed vast areas of the Indian coastline, aquaculture farms and severalfishing boats and gear. The International Trade Commission is expected to vote on the review in the main hearing room of the commission's building before the weekend. India has a 10.17-per cent anti-dumping duty on shrimp exports to the US. On April 29, the International Trade Commission decided to conduct a six-month changed circumstances review to determine whether revoking the anti-dumping duty orders on imports of certain frozen warm-water shrimp from India and Thailand, issued as a result of its earlier investigations, will lead to continuation or recurrence of the injury to the US industry. The review was to be concluded by October 31. The final vote is likely to be conducted before Friday to decide the fate of Indian shrimp exports to the US. On the impact of the tsunami and the anti-dumping duties on Indian shrimp, Mr Abraham Tharakan, President of the Seafood Exporters Association of India, said: "There has been a 30 per cent fall in shrimp catch from the sea and an almost 60 per cent fall in the second aquaculture crop, which is being harvested." The impact of the tsunami continues to be felt along the Indian coastline with new reports on damages caused to the seabed, decrease in shrimp catch from the sea and major erosion in aquaculture production. Even as a host of new and exotic fish species have been reported along the Indian coastline, there has been a sharp fall in catch in some traditional fish species like shrimp.
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