India to extend Thai, Korean acrylic fibre levy

06 October 2008 18:59  [Source: ICIS news]

NEW DELHI (ICIS news)--India’s Finance Ministry would likely extend the existing anti-dumping duty on acrylic fibre (AF) imports from Thailand and South Korea by four years beginning on 9 October, a government official said on Monday.

The ministry was considering final findings of a so-called sunset review of levies by the anti-dumping authority (ADA).

In findings dated 3 October, the ADA recommended continuation of the levies that were first imposed in October 2002.

The ministry had in 2007 extended the levies on Thai and South Korean AF by one year to 8 October, but had allowed the penalty on imports from the US to lapse.

The proposed extension of the penalty followed a petition from the Forum of Acrylic Fibre Manufacturers that targeted only imports from Thailand and South Korea.

Imports from South Korea currently are levied at rate of 22.5 cents/kg.

Imports from Thai Acrylic Fibre are levied at a rate of 16 cents/kg, while imports from all other Thai firms are penalised at a rate of 31.3 cents/kg.

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By: Naresh Minocha
+65 6780 4359

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