Financial Daily from THE HINDU group of publications
Thursday, Mar 11, 2004
Financial Daily from THE HINDU group of publications Thursday, Mar 11, 2004 |
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Industry & Economy
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Anti-dumping Dumping duty on Chinese melamine mooted Our Bureau
New Delhi , March 10 THE Designated Authority in the Commerce Ministry has recommended imposing preliminary anti-dumping duty on melamine from China. The non-toxic substance, reacted with formaldehyde, has a number of uses in downstream products. In response to a written petition filed by Gujarat State Fertilisers and Chemicals Ltd, Vadodara, the sole producer of melamine in the country, the Authority initiated the investigation for the period between April 2002 and June 2003. It noted that though the product was being imported from several countries, import prices from other countries were higher and not undercutting or that the volume of imports was de-minimus. However, there was a significant increase in imports from China in relation to other countries. In its preliminary probe, the Authority found that the domestic industry had suffered financial losses due to suppressed net sales realisation on account of price undercutting/underselling caused by low landed prices of the dumped melamine. Accordingly, it has proposed that provisional anti-dumping duties equal to the difference between the suggested amount and the landed value of the goods be levied. In the case of Chinese firm Tianjin Kaiwei Chemical Co Ltd, the preliminary anti-dumping duty is the difference between $1294. 09 and the landed value of import per tonne. In the case of other producers/exporters from China, the recommended anti-dumping duty is the difference between $1464.64 and the landed value of import per tonne.
More Stories on : Anti-dumping | Chemicals
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