Shares of shrimp exporters surge after U.S. cuts anti-dumping tariffs

This was a positive sign after Vietnam’s shrimp industry received good news that the U.S. reduced its anti-dumping tariffs levied on Vietnamese shrimp to zero percent.

In July 2019, shrimp exports to the U.S. market increased 37.2 percent to reach USD 77 million. (Photo for illustration)

Specifically, shares of Sao Ta Food Joint Stock Company (coded FMC) rose 6.64 percent to VND 32,100 per share; Camimex Group (coded CMX) up 3.6 percent to VND 30,300 per share; Ca Mau Seafood Joint Stock Company (CAT) increased 1.11 percent to VND 9,100 per share; and Minh Phu Seafood Corporation (MPC) up 8.3 percent to VND 30,000 per share.

A day earlier, the U.S. Department of Commerce (DOC) released the final results of the 13th period of review (POR 13) from February 1, 2017 to January 31, 2018, imposing a zero-percent tariff on 30 Vietnamese shrimp exporters.

According to Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports to the U.S. have recently bounced back.

In July 2019, shrimp exports to the U.S. market increased 37.2 percent to reach USD 77 million, raising the total turnover in the first seven months of this year to USD 327.4 million, a year-on-year rise of 5 percent.

Apart from the U.S., Vietnam is exporting shrimp to other major markets such as the E.U., the Republic of Korea and China.

Source: VNA