19 October 2012 16:21 [Source: ICIS news]
LONDON (ICIS)--Soda ash exports from the EU to India nearly halved from January to July because an anti-dumping duty that protects the interests of Indian producers has made EU product too expensive, an Indian buyer said on Friday.
"This anti-dumping duty favours the Indian manufacturers to a great extent," the soda ash buyer said.
According to statistics agency Eurostat, soda ash exports from the EU to India dropped from 7,657 tonnes in January to 4,088 tonnes in July.
The Indian buyer said it has reduced soda ash purchases from Europe to zero because the anti-dumping duty has made imports too expensive.
"We are monitoring the soda ash market very closely but we cannot proceed further because of the anti-dumping duty imposed by India," the buyer said.
Instead, it is buying soda ash from local suppliers or from traders that sell South African or Kenyan product at a competitive price.
At present the cost of Indian soda ash is $312-315/tonne (€240-243/tonne) FD (free delivered) India and imports from Kenya are at $255-265/tonne CIF (cost, insurance and freight) Mumbai.
The Indian revenue department said the duty will be imposed for five years. It ranges from $2.38-38.79/tonne, depending on the producer and country of export. Rates range from $9/tonne on imports from the EU, $38/tonne from the US, $36/tonne from China, $28/tonne from Iran and $15/tonne from the Ukraine.
($1 = €0.77)
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