Anti-dumping duty on shrimp exports to the US reduced by 40% with the US department of commerce (USDOC) reducing the effective duty for India to 1.6% from the earlier 2.67%. This relief comes after the seafood sector suffered successive setbacks last year when the US agency increased the anti-dumping duty by a whopping 300% and decided on extending the anti-dumping duty for another five years.
Shrimp exports to the US, which are currently looking up after staying depressed for five years, are expected to increase substantially.
India and several countries including Vietnam, Thailand and Brazil came under the scanner of the USDOC in 2004 after organisations in US alleged that lower-priced, pond-raised shrimps were hurting the US industry.
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