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May 15, 2015

Vietnam

Wants Zero Duties on Its Shrimp Imports

 

Despite its huge shrimp farming industry, Vietnam still has to import $640 million worth of whole shrimp a year to keep its processing plants humming an its export markets supplied.  According to the Import-Export Department, under the Ministry of Industry and Trade, most of Vietnam’s shrimp imports come from Ecuador and India.  According to the Vietnam Association of Seafood Exporters and Producers (VASEP), import tariffs on shrimp are 10-15%.

 

VASEP wants the Ministry of Finance to cut the tariffs to 0%, so Vietnam’s shrimp exports will be more competitive in international markets.  Right now, prices for Vietnamese shrimp products are higher than those from some other countries in the region.

 

Nguyen Thi Bich, a market analyst at VASEP, said with annual shrimp exports of 500,000-600,000 metric tons (including re-exports), Vietnam is the top shrimp exporter in the world.  Bich said last year China’s shrimp exports reached $2.5 billion, India’s $3.7 billion, Thailand’s $2 billion—and Vietnam’s $3.95 billion.  “The figures indicate Vietnam was the biggest shrimp exporter in the world,” she said.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  VASEP Asks 0% Import Duty on Shrimp for Reprocessing, as Ecuador, India Shrimp Crucial for Vietnam.  Michael Ramsingh (phone 1-732-240-5330, email michaelramsingh@seafood.com).  May 14, 2015.

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