25 August 2010 10:16 [Source: ICIS news]
MUMBAI (ICIS)--The Directorate General of Anti Dumping & Allied Duties (DGAD) at India’s Ministry of Commerce has recommended a much lower-than-expected levy on polypropylene (PP) imports, official documents showed on Wednesday.
The DGAD has recommended levying company specific anti-dumping duties (ADD) ranging from $28.49/tonne (€22.50/tonne) to $323.50/tonne on PP imports from Saudi Arabia, Oman and Singapore – lesser than the provisional duties of $44.40/tonne to $1,033.65/tonne imposed earlier.
The recommendations might come as a small measure of relief to some exporters to India, market players said.
However, they added that the recommendations would have to be finalised by the country’s Ministry of Finance.
In its final findings, the DGAD recommended that imports from Oman would have an ADD ranging between $67.68/tonne to $241.82/tonne, while Saudi Arabian companies would be subjected to a duty of $51.16/tonne to $322.57/tonne.
The lowest and highest in the range were reserved for exporters from Singapore, who would have to pay ADDs of between $28.49/tonne and $323.50/tonne.
The DGAD also said some companies that directly export their PP products or those that use specified marketing arms would be exempted from the provisional ADD.
However, an ADD of $28.49/tonne would apply if TPC’s product was exported by Sumitomo Chemical Asia, it added.
In response to the recommendations, most Indian producers told ICIS that they were happy with the government's decision to impose ADD on imports, but some market sources said that it could set a dangerous precedent in the industry.
($1 = €0.79)
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