Ukraine has started an anti-dumping investigation into imports of methanol from Russia, the Interagency Commission for International Trade has reported.

According to a report published in the Uriadovy Kurier newspaper, the investigation was opened at the request of CJSC Severodonetsk Azot (Luhansk region).

Methanol imports from Russia to Ukraine in July-December 2009 in absolute terms grew by 12.52%. Compared to total methanol consumption in Ukraine they jumped by 61.89%, and compared to production at Severodonetsk Azot they soared by 93.81%.

The claim says that the price of imported methanol from Russia last year was less than its production cost and the price of the methanol produced by Severodonetsk Azot and sold on the Ukrainian market.

According to the report, Severodonetsk Azot's production indicators oin July-December 2009 worsened year-over-year. Production fell by 41.95%, the use of production facilities went down by 42.11%, and the company's share of the domestic market fell by 11%. Profit from sales plunged by 97.87%, and sales on the domestic market were down by 12.17%.

According to a commission conclusion, the appeal contains enough evidence that the worsening of the company's performance was caused by dumping imports of methanol from Russia to Ukraine.

The commission instructed the Economy Ministry to conduct the investigation.