US imposes anti-dumping duties on cheap imported shrimp

Published Oct 30, 2024

Tridge summary

The US shrimp market is dominated by imports, with supplies from Ecuador, Indonesia, India, and Vietnam making up 83.5% of the market, leaving local producers with a 7.4% share. These countries provide subsidied shrimp, leading to a significant price advantage and a drop in profits for US producers. Consequently, the US International Trade Commission has imposed anti-dumping duties on shrimp imports from these countries, ranging from 2.41% to 221.82%. This move comes as US shrimp producers struggle to compete, with their profits falling from $684.7 million in 2021 to $524.3 million in 2022. The global frozen shrimp market in 2022 was estimated at $24.4 billion.

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Original content

ASPA pointed out that supplies from these countries account for 83.5% of the US shrimp market, while local producers account for only 7.4% (data for 2022). Exporters receive subsidies for production and shipments, which reduce prices by up to 68% compared to the US. As a result, the profits of US shrimp producers fell from $684.7 million in 2021 to $524.3 million in 2022, and profitability fell below zero. The US International Trade Commission opened the case on November 21, 2023, but the decision has only now been made. Individual producers from Ecuador will pay up to 4.41% of the value of imported shrimp, from Indonesia - up to 3.9%, from India - up to 5.77%, from Vietnam - up to 221.82%. In 2022, Ecuador exported 489.7 thousand tons of shrimp for $3.5 billion, India — 911.4 thousand tons for $8 billion, Indonesia — 436 thousand tons for $4.1 billion, Vietnam — 178.6 thousand tons for $2 billion. The global frozen shrimp market in 2022 was estimated at $24.4 billion. The ...

Source: Fishretail