04 March 2009 10:32 [Source: ICIS news]
(Recasts third paragraph for clarity)
SINGAPORE (ICIS news)--India has for the first time initiated an anti-dumping duty investigation into imports of polypropylene (PP) from Saudi Arabia, Oman and Singapore in response to an application filed by major PP producer Reliance Industries, according to a Ministry of Commerce and Industry notification obtained by ICIS news on Wednesday.
The notification said the applicant had provided sufficient evidence that the domestic prices in the exporting countries were “significantly higher than the net export prices indicating prima-facie that the goods are being dumped by the exporters”.
According to the government, the applicant had furnished evidence of the “injury” having taken place as a result of the alleged dumping “in the form of increased volume of dumped imports, price underselling, price suppression and substantial decline in profitability, return and cash flow for the domestic industry”.
The period of investigation will be from 1 April to 31 December 2008. The government has sought responses to the notification by 6 April.
Polypropylene (PP) converters in
“If the Reliance petition results in the imposition of anti-dumping duty on imports from these countries, it will severely inhibit our access to raw material," said a Mumbai-based converter.
“PP availability in the domestic market has been very tight and erratic in the past few months, so we have had to increasingly depend on imports," he added.
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