Shrimp exports to the U.S. will be better at year end

Vietnam shrimp exports to the U.S. in August 2015 reached US$60.2 million, down 43% year on year. Between January and August 2015, shrimp exports hit US$373.8 million, down 50 percent year on year. Shrimp exports to the US continued to fall due to competitive pressure.

On 7th September 2015, US Department of Commerce (DOC) issued the final results of the ninth anti-dumping duty administrative reviews on frozen shrimp imported from Vietnam. The period of review (POR) is from 1st February 2013 to 31st January 2014. DOC imposes average anti-dumping duty of 0.91%, compared to 0.93% in the preliminary results announced in March 2015. This is much lower than final result of POR8, which was 6.37%. This is a good news for Vietnam shrimp exporters. The reduction in antidumping tax helps ease the burden on duty rate imposed on Vietnam shrimp exporters. Accordingly, it is forecast that Vietnam shrimp exports to the US will be better in the end of 2015.

As an American's most favorite seafood, shrimp is highly demanded. South East Asia is one of the biggest source of shrimp for the U.S. 

The Trans-Pacific Partnership (TPP) will bring a brighter outlook for Vietnamese shrimp.  

Currencies of India and Indonesia being devaluated against USD is a factor that boost their exports. Shrimp price in the US may continue to fall. Among 5 leading shrimp suppliers to the US, India is the only one to report positive growth in shrimp exports to to the market in the first 7 months of the 2015.

It is now time that Vietnam processors takes efforts to serve customers with their best products and add more values to products.