World shrimp market in turmoil
The world's shrimp exporters are anxiously waiting for a ruling on whether Asian farmers are selling their produce at unfair prices.
US shrimp producers launched a lawsuit in January which alleged that Vietnam and China were dumping cheap products into their markets.
Asian seafood farmers, meanwhile, accuse the US of blatant protectionism.
The US Commerce Department will rule on whether extra tariffs should be imposed on Asian shrimps later on Tuesday.
If the US shrimp producers win, Washington will slap taxes on imported shrimp, forcing up the price and making it less competitive against locally produced seafood.
Last year Vietnam lost a bitterly fought campaign against a similar move by US catfish producers.
But the shrimp market in the US is worth a lot more. Vietnam sells shrimp worth about $500m (£270m) to the American market each year, compared to less than $60m in catfish.
A separate decision is also expected later this month on whether the US could impose sanctions on shrimp imports from a further six countries, including Thailand, Brazil, Ecuador and India.
Southern shrimpers, struggling to cope with plummeting prices, filed a petition with the US International Trade Commission in February.
"It's one of the largest cases ever filed, it's against six countries around the world, there are thousands of companies," said Eddie Gordon, president of the Southern Shrimp Alliance, which organised the petition.
"It's almost like an economic war going on," he said. "How do you compete?"
The world's shrimp exporters are anxiously waiting for a ruling on whether Asian farmers are selling their produce at unfair prices.
US shrimp producers launched a lawsuit in January which alleged that Vietnam and China were dumping cheap products into their markets.
Asian seafood farmers, meanwhile, accuse the US of blatant protectionism.
The US Commerce Department will rule on whether extra tariffs should be imposed on Asian shrimps later on Tuesday.
If the US shrimp producers win, Washington will slap taxes on imported shrimp, forcing up the price and making it less competitive against locally produced seafood.
Last year Vietnam lost a bitterly fought campaign against a similar move by US catfish producers.
But the shrimp market in the US is worth a lot more. Vietnam sells shrimp worth about $500m (£270m) to the American market each year, compared to less than $60m in catfish.
A separate decision is also expected later this month on whether the US could impose sanctions on shrimp imports from a further six countries, including Thailand, Brazil, Ecuador and India.
Southern shrimpers, struggling to cope with plummeting prices, filed a petition with the US International Trade Commission in February.
"It's one of the largest cases ever filed, it's against six countries around the world, there are thousands of companies," said Eddie Gordon, president of the Southern Shrimp Alliance, which organised the petition.
"It's almost like an economic war going on," he said. "How do you compete?"
