The Finance Ministry has imposed definitive anti-dumping duty on all imports of purified terephthalic acid (PTA) from South Korea and Thailand.
PTA is primary raw material in the manufacture of polyester chips, which in turn are used in a number of applications in textile, packaging, furnishings, consumer goods, resins and coatings.
Based on the recommendations of the Designated Authority in the Commerce Ministry in its sunset review findings, the Revenue Department has now imposed a definitive anti-dumping duty of $27.32 per tonne on PTA produced by Hanwha General Chemical Co Ltd and exported by Hyosung TNC Corporation.
For PTA exported by Taekwang Industrial Co Ltd, the Revenue Department has imposed definitive anti-dumping duty of $23.61 per tonne. For all other exporters from South Korea, it has been pegged at $78.28 per tonne.
In the case of PTA exported by Indorama Petrochem Ltd and TPT Petrochemicals Public Co Ltd, Thailand, the Department has now imposed an anti-dumping duty of $45.43 per tonne. For all other exporters from Thailand, the duty has been pegged at $62.55 per tonne.
The latest action comes in less than a month after the Designated Authority came up with its final findings on the sunset review.
It may be recalled that the petition seeking review investigations was filed by Reliance Industries Ltd and MCPI Private Ltd. There is one more producer of the country — Indian Oil Corporation Limited.