Bottom falls out of US market as Vietnamese shrimp sales plummet
Farm raised shrimp exports from Vietnam to the US fell nearly 6% in the seven months leading up to August 2017 on the back of increased import duties, says the Vietnam Association of Seafood Exporters and Producers.
In a written report, the Association said that in 2016 the US was the top market for farm raised shrimp consignments, but that sales have plummeted in 2017 and the market is now ranked only the fourth largest.
In terms of volume of sales – Japan, the EU and China are the now the top three selling markets for Vietnamese farm raised shrimp, according to the Association report.
When comparing the US anti-dumping tariffs with that of India and Thailand, Vietnam has the highest rates, which has priced Vietnamese shrimp right out of the market, Truong Dinh Hoe, general secretary of VASEP, recently told the Saigon Times.
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