Shrimp trade gets a boost
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The future is looking brighter for Thailand's shrimp industry after it finally escaped the punitive duties charged on its frozen products by the United States, while rival countries are still facing high tariffs.
Pranee Siriphand, director-general of the Foreign Trade Department, said yesterday that Thailand’s efforts to provide clear documentation against the countervailing duties (CVD) imposed by the US on Thai shrimp bore fruit.
On Tuesday, the US said it had investigated frozen shrimp imports and decided to stop levying CVDs against Thai shrimp, while other export countries still face CVDs ranging from 0.1-54.5 per cent.
The US found that Thailand has subsidised exported shrimp at a rate lower than 2 per cent. Thailand sent clear documentation to the US Trade Representative protesting against the tariff.
Thailand had faced high duties as the US alleged that the Thai government subsidised the shrimp industry, including price and financial support for farmers in the form of soft loans.
