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US reduces anti-dumping tariff on Vietnamese shrimp

In Uncategorized on October 13, 2010 at 3:54 am

US reduces anti-dumping tariff on Vietnamese shrimp

QĐND – Saturday, October 02, 2010, 20:17 (GMT+7)

The US Department of Commerce (DOC) has announced the final adjustment for the anti-dumping tariff on Vietnamese frozen shrimp from February 1, 2008 to January 21, 2009.

The Vietnam Association of Seafood Exporters and Processors (VASEP) said that the tariff is lower than the rate that DOC announced in August.

The tariff was reduced from 2.96 percent to 2.9 percent from shrimp of the Minh Phu Seafood Joint Stock Company, from 5.58 to 4.89 percent from products of the Nha Trang Seaproduct Company, and from 4.27 to 3.92 percent for other companies.

Source: VOV

Source: QDND

As world prices peak, Vietnam runs out of shrimp to sell

In Uncategorized on June 21, 2010 at 4:37 pm

As world prices peak, Vietnam runs out of shrimp to sell

QĐND – Monday, June 21, 2010, 22:26 (GMT+7)

Shrimp prices have spiked since the Gulf of Mexico oil spill, but Mekong Delta production is at a cyclical low.

CEO Le Van Quang of Minh Phu Seafood Company says there’s been a surge in demand by US shrimp importers since the oil spill disaster cratered Gulf of Mexico production.  Prices offered for black tiger shrimp have reached $13 per kilo, an increase of 30 percent over 2009 levels and the highest price seen in ten years.

Hot weather and decreased production in competing countries are also pushing  prices up.  An epidemic has killed 80 percent of Indonesia’s farmed shrimp, and 20 percent in Thailand and Malaysia.  Production is down in India and Bangladesh too.

A golden opportunity missed

Seafood companies say that they are missing fat profits because demand has outstripped supply.  Lam Ngoc Khuan at Phuong Nam Seafood Processing Company (Soc Trang) says that foreign partners are eager to place orders, but the company dares not sign new contracts.

Khuan says his company is scouring Ca Mau and Bac Lieu province for more shrimp.  It has only been able to buy 40 tonnes per day, though the factory can process and pack 120 tonnes per day.

Other Mekong Delta companies such as Fimex Vietnam,  Stapimex, Kim Anh, Thai Tan and Ut Xi tell the same story: there’s only enough shrimp for them to run at 20-30 percent of the capacity.

Ta Minh Phu, Deputy Director of the Bac Lieu province’s Department for Agriculture and Rural Development, says that hectarage devoted to shrimp aquaculture has been reduced in the last few years because prices were depressed below the cost of production for many farmers.  Now they do not have capital to resume farming, and banks are reluctant to provide loans.

Mekong delta production is expected to rebound from September 2010.

Source: VNN

Source: QDND

Outcry over delay in shrimp project

In Uncategorized on November 17, 2008 at 10:22 am

KHANH HOA — An incomplete shrimp raising project in Cam Thinh Dong Commune, Cam Ranh Township, central Khanh Hoa Province worth VND40 billion (US$2.3 million) has caused a public outcry after prolonged delays have left farmers with no means to earn a living.

The project was given approval from the provincial People’s Committee back in July 2000. It was to cover 160ha in the commune and receive money from the Ministry of Fisheries.

The first phase of the project was completed in 2001 at a total cost of over VND17 billion ($1 million) and was divided into five contract packages to build basic facilities, including 44 ponds, 44 drains and a pump station.

Four out of the five contract packages were completed by late 2003.

Problems started with the last contract package to build a pump station and steel water pipeline at an estimated cost of over VND2 billion. Khanh Phuong Ltd Co from Nha Trang City were in charge of construction.

After extensive delays, building work was finally wrapped up in 2007, although it had been scheduled for completion in early 2004.

Tran Van Ot, deputy head of the economic bureau of Cam Ranh Township said the company had asked to change construction material from steel to cast iron because of rising steel prices so it had taken more time for the company to get a licence from the provincial People’s Committee. There had also been hold ups with procedures to apply for the installation of a pump station in neighbouring Ninh Thuan Province, he said.

The problem was that the completed stages of the project were gradually falling into disrepair. Pump stations and drains and tens of hectares of ponds were now becoming overgrown with weeds, many locals said.

But their complaints were falling on deaf ears, said Doan Cong Nhan, chairman of the Cam Thinh Dong Commune’s People’s Committee. “Local authorities and people living in the project area have complained to authorised agencies many times about the issue but received no reply.”

Hundreds of local farmers had to leave their farms for land to be cleared for the project. Many were promised jobs on the large-scale farm but now they have to find alternative ways to earn money.

“My family had 1,800sq.m of water surface for shrimp raising, which earned us VND50 million ($2,900) each year but since the project was started, we have no land for production and must do temporary jobs like bricklaying, fishing or raising cows to have enough to eat,” said local farmer Doan Cong Lam.

Do Manh Hung, a farmer who had raised shrimp in the area for more than 10 years, said his family got VND13 million ($764) in exchange for their land. The project management board also promised they would get jobs once the plan was fully operational.

“The management board promised to give us 1,800sq.m of water surface so we could raise shrimp again once the project was put into operation,” he said.

An official from the communal People’s Committee said authorities have planned to transfer the project to Thong Thuan Seafood Company in Ninh Thuan Province. —

Farmers raise more whiteleg shrimp

In Uncategorized on October 13, 2008 at 12:12 pm

BAC LIEU, CA MAU — Farmers in Bac Lieu and Ca Mau provinces are expanding their breeding ponds for whiteleg shrimp, as profits have risen dramatically.

Whiteleg shrimp are now selling for VND150,000 (US$9) per kilo.

With an average output of 10-13 tonnes per ha, breeders can earn VND120-150 million ($7,500-$9,375) per ha, according to Dinh Vu Hai, technical manager of Hai Nguyen Co.

The total profits could increase by 120 per cent in one year, profits that would be equal to four times that of black tiger shrimp.

One advantage of raising whiteleg shrimp is the short breeding time, about 70-80 days, which allows for three seasons.

Under the Government’s policy, Bac Lieu Province authority is carrying out a pilot project to breed whiteleg shrimp on 1,700ha.

But most breeders have expanded their farms beyond the government’s permissible level of 10ha.

The Ca Mau Seafood Department said about 31 families in Dam Doi District were applying for permission to expand their whiteleg shrimp-breeding.

In Bac Lieu Province, where whiteleg shrimp pilot projects are limited to only 30ha, farmers, especially those in Hoa Binh, Dong Hai and Gia Rai districts, have expanded their ponds to more than 1,500ha.

Since the beginning of this year, the Ministry of Agriculture and Rural Development (MARD) has allowed coastal provinces to breed whiteleg shrimp in a series of pilot projects in a bid to diversify seafood sources and compete with China and Thailand, whose whiteleg shrimp has won export markets this year.

MARD minister Cao Duc Phat says the ministry’s policy is to encourage the raising of whiteleg shrimp, but strictly control zoning areas, environmental preservation and quality of seafood.

Bac Lieu Province plans to develop 11,000ha of whiteleg shrimp to 2010, requiring up to VND6 trillion ($357 million) for investment in quality breeders, irrigation and breeding techniques, according to the provincial Department of Agriculture and Rural Development.

According to the Economy and Aquaculture Planning Institute, whiteleg shrimps originated from South America and require different breeding techniques and higher investment. —

US cuts tariffs for shrimp exporters

In Uncategorized on September 11, 2008 at 9:40 am

HA NOI — The US Department of Commerce (DOC) decided to exempt four Vietnamese frozen warm-water shrimp export and processing companies from anti-dumping tariffs after a lengthy second administrative review, according to the Viet Nam Association of Seafood Exporters and Processors (VASEP).

The four companies are Minh Phat Seafood Co Ltd, Ca Mau Frozen Seafood Processing Import Export Corporation (Camimex), Grobest &I-Mei Industry Viet Nam and Viet Hai Seafoods Company Ltd (Viet Nam Fish One Co Ltd).

The DOC said in a Federal Register Notice on Tuesday that the four companies did not sell merchandise at less than normal value during the period of review, February 1, 2006 through January 31, 2007.

Under the final decision, the department imposed a tax of 4.3 per cent for Minh Hai Joint Stock Seafoods Processing Company (Seaprodex Minh Hai), a tax of 4.57 per cent for 23 exporters, and a higher tax rate of 25.76 per cent for another 35 exporters.

The average rate is applied retrospectively to revenue for exports shipped to the US between February 1, 2006 and January 31, 2007.

The final decision conflicted with preliminary results announced in March, indicating 28 exporters and processors getting zero or minimal rate.

Truong Dinh Hoe, deputy general secretary of VASEP, said the association would require the DoC to re-consider the final decision on imposing the tax for the 24 shrimp export and processing firms with a high tax rate.

In the first administrative review on Vietnamese shrimp exporters in September 2007, the DoC decided to cut tariffs from 4.57 per cent to 0.01 per cent for Viet Hai and to 1.08 per cent for Grobest.

The country expected to earn $1.68 billion from shrimp exports this year, accounting for roughly 40 per cent of Viet Nam’s total seafood export earnings. —

Four shrimp exporters exempted from the US’s anti-dumping tax

In Uncategorized on September 10, 2008 at 4:09 pm

Hanoi (VNA) – Four Vietnamese businesses are now exempted from anti-dumping taxes on their shrimp exports to the US market.

According to a decision announced by the US Department of Commerce (DoC) on September 9, the businesses are the Minh Phat Seafood Co. Ltd., the Ca Mau Frozen Seafood Processing Import-Export Corp, the Grobest&I-mei Industry Vietnam and the Viet Hai Seafoods Co. Ltd.

This was the result of the DoC’s second administrative review of the anti-dumping taxes on Vietnam ’s frozen warm-water shrimp during the period between February 1, 2006 and January 31, 2007.

Under the decision, 23 Vietnamese shrimp exporters are subject to a 4.57 percent tax rate and one business enjoys the rate of 4.3 percent, while all the remaining one have to pay a 25.76 percent tax.

The fisheries industry sets a target of earning 850 million USD from exports of aquatic products to the US this year. Last year Vietnam ’s products made up 6.2 percent of the US ’s total seafood imports at 12 billion USD.-

Thai business invests in shrimp breeding farm

In Uncategorized on August 27, 2008 at 4:28 pm

Thua Thien-Hue (VNA) – Thai Charoen Pokphand group’s CP Vietnam Livestock Company will invest between 6 to 9 million USD in building a white-leg shrimp breeding farm in Phong Dien district, central Thua Thien-Hue province.

The 136ha farm is expected to create jobs for 120 locals CP Vietnam, a wholly Thai invested business, is headquartered in Bien Hoa II industrial park, southern Dong Nai province.

It has opened branches in central Ha Tinh, Quang Tri, Binh Thuan and Khanh Hoa provinces and southern Tien Giang and Ben Tre provinces.-