US countervailing duty 'unlikely to hit Indian shrimp exports'

The recent countervailing duty imposed by the US government on Indian shrimp exports are unlikely to affect volumes despite an inevitable rise in costs for producers, reported Business Line.

The 5.91 percent duty was announced by the US Department of Commerce on May 29.

Together with the existing 3.5 per cent anti-dumping duty, exporters now have to pay nearly 9 percent of the value of their shipments to the US Custom and Border Patrol upfront at the port of entry.

This is an additional cost that will most likely be passed on to shrimp producers.

“The