The U.S. Customs Service has paid nearly VND4.2 million back to the Mseafood Corporation, an affiliate of the Minh Phu Seafood Corporation (MSC), following its verdict that MPC did not dump shrimp into the U.S market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Mseafood deposited that sum for the Service to import MPC’s shrimp into the U.S. market in the antidumping lawsuit from February 1, 2006 to January 31, 2007.
Following the U.S. Customs Service’s verdict, MPC will benefit from an anti-dumping tax rate of 0 per cent being levied upon its products.
Almost all of Vietnamese shrimp exporters are currently subject to a tax rate of 25.76 per cent, while a number of firms bear a rate of 4 per cent-5 per cent and some others enjoy a zero-rate tax.
Mseafood Corporation, which the MPC holds a 90 per cent stake, is headquartered in 17934 Point Sur Street, Fountain Valley, CA 92708, USA.
MPC, one of the biggest seafood exporters in Vietnam, shipped more than 13,877 tons of seafood worth US$156 million in 2008, surpassing 14 per cent in volume and 8 per cent in value compared to plan.
Currently, Vietnamese seafood companies in general, and shrimp, in particular, are facing with serious shortage of materials. The companies said price of shrimp material is now 30 per cent higher than late 2008.
Shrimp is the biggest forex earning of Vietnamese seafood sector, brining in more than US$1.6 billion in 2008. (Vasep)
Vietnamese
