India: Anti-dumping duty on 'methylene chloride' from US, EU extended by one year

08/08/2018 12:00 - 237 total view

NEW DELHI: The Finance Ministry has extended by one year the validity of existing anti-dumping duty on 'methylene chloride' -- a chemical used by Pharma companies -- imports from the US and the European Union.

The anti-dumping duty - which was earlier valid till October 21, 2018 - will now be valid till October 20, 2019, the revenue department has said.

Methylene Chloride is used in the manufacture of polycarbonate and phenolic resins, rayon yarn, pharmaceuticals, agro and fragrance chemicals. It is also used as an extractant for edible fats, cocoa butter and essences.

The latest revenue department move comes in the wake of the Designated Authority in the Commerce Ministry recommending a one year extension of duty following the initiation of sunset review investigations on imports of ' Methylene Chloride' from the US and the EU.

Gujarat Fluorochemicals Ltd and Chemplast Sanmar had jointly filed the petition seeking sunset review investigations. There are three other producers of 'Methylene Chloride' -- TGV SRAAC Ltd (formerly Sree Rayalaseema Alkalies and Allied Chemicals Ltd); Gujarat Alkalies & Chemicals Ltd and SRF Ltd.

It may be recalled that the Centre had on May 21, 2014 imposed an anti-dumping duty of $ 0.33 a kg on ' methylene chloride' imports from the US. In the case of Akzo Nobel, the anti- dumping duty was pegged at $ 0.32 a kg. For all other producers of 'methylene chloride' imports from the EU, the duty has now been pegged at $ 0.36 a kg.
Source: The Hindu Business Line