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Vietnamese trade group fears impact of shrimp oversupply

Vietnamese trade group fears impact of shrimp oversupply

HANOI: An association representing Vietnamese seafood exporters is concerned that the global oversupply of shrimp will weigh down prices even as farmers expect to up their output 10% over 2017 levels.

The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that pricing for the country’s farmers could fall further than the 5% they have already dropped this year.

Additionally, the US Department of Commerce recently raised the rate of anti-dumping duties on Vietnamese shrimp exports to 25.39%. And Vietnamese producers, like their counterparts the world over, are ramping up compliance with the US Seafood Import Monitoring Program, which will be extended to shrimp imports soon.