Mon, Jun 19, 2017 - Page 16 News List

India slaps tariff on Taiwan’s chemical companies

DAMAGING:Taiwan was the smallest hydrogen-peroxide supplier to India among the nations penalized with anti-dumping tariffs before exports stopped last year

Staff writer, with CNA

India has imposed an anti-dumping tariff on Taiwanese chemical exports after an investigation found that Taiwanese companies sold hydrogen peroxide at unfairly low prices in the Indian market, the Ministry of Economic Affairs (MOEA) said.

The ministry on Friday said that Taiwanese exporters will face an anti-dumping duty of US$56.33 per tonne for five years as the probe found that the exports from Taiwan caused material damage in the Indian market.

FIVE OTHER NATIONS

India has also imposed similar tariffs on hydrogen-peroxide firms from Bangladesh, South Korea, Indonesia, Pakistan and Thailand, ranging from US$27.81 to US$117.94 per tonne, the ministry said.

Hydrogen peroxide is used in a wide range of industries, such as the textile, leather, paper and wood sector, for corrosion control and bleaching purposes.

It is also used as an antiseptic and antibacterial agent.

National Peroxide Ltd and Hindustan Organic Chemicals Ltd, two major Indian firms, last yearjointly filed a request for Indian authorities to launch a dumping probe against exporters from six nations.

FINAL RULING

India’s Directorate-General of Anti-dumping and Allied Duties in its final ruling said that the chemical was dumped in India and that the dumping has affected the local chemicals industry.

It recommended anti-dumping duties against the six nations.

The Indian Ministry of Finance decided to impose the tariffs.

In 2014, Taiwan was the smallest hydrogen-peroxide supplier to India among the six nations, selling 2,034 tonnes worth US$730,127, the MOEA said.

In 2015, Taiwan exported 482 tonnes valued at US$171,454 and the exports fell to zero last year, it said.

China, Israel and Singapore are the three largest buyers of hydrogen peroxide from Taiwan, and their purchases totaled US$2.63 million, US$310,000 and US$190,000 respectively in the first five months of this year.

No Taiwanese exporters have responded to India’s move so far, the MOEA said, adding that it would provide assistance to any exporters that want to seek legal redress from the duty.

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