India’s seafood export fraternity is not moved by the US Department of Commerce’s plan to hike anti-dumping duty on Indian shrimps to 2.34 per cent – they say the moveis unlikely to make any repercussions on the country’s export basket, especially in the wake of surging demand.

“Since we are dominating the US market and playing the role of a preferred supplier to all the buyers there, the issues connected with the proposal to increase the anti-dumping duty will not have any major impact. A 1-2 per cent hike will not make any major impact on quantity of seafood exports to the US,”

Abraham Tharakan, former national president of Seafood Exporters Association of India, told BusinessLine .

“Some companies, catering to the US market, might face a shortfall in their profits, he said, adding that the volume will continue to grow as the US is the major buyer of Indian shrimps.”

According to him, the reviewing of anti-dumping duty is a normal and ongoing process of the US Department of Commerce. Last year, they reduced the duty to 0.84 per cent from 1.84 per cent.

Alex Ninan, President, SEAI Kerala region, said that it is only a preliminary declaration and final review will be in September.

“We are taking up the issue with the concerned authorities as the US market accounts for 30 per cent of the total Indian seafood exports.”

Ramakanth Akulla, CEO, The Waterbase Ltd, a leading manufacturer of high-quality shrimp feeds, pointed out that the Commerce Department reviews the anti-dumping duty on shrimps each year. This is a preliminary review and the final rate would out sometime in the second half. Last year, there was some changes between the preliminary (1.07 per cent) and the final rates (0.84 per cent). Even in the event the rate of 2.34 per cent is final.

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