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India imposes duty on PTA imports from Korea, Thailand

Jul '19
Pic: Shutterstock
Pic: Shutterstock
The Indian government has imposed anti-dumping duty on imports of purified terephthalic acid (PTA) from South Korea and Thailand for a period of five years. The duty will be in the range of $23.61/mt to $78.28/mt for imports from South Korea, while it will be between $45.43/mt and $62.55/mt for products from Thailand, an official notification said.
PTA manufactured and exported by South Korea-based Taekwang Industrial Co., Ltd would attract a duty of $23.61/mt. PTA manufactured by Hanwha General Chemical Co., Ltd and exported by Hyosung TNC Corporation would attract $27.32/mt. PTA manufactured or exported by any other Korean company would attract $78.28/mt, the department of revenue under the ministry of finance said in a notification.
For PTA manufactured and exported by Thailand-based Indorama Petrochem Ltd and TPT Petrochemicals Public Co. Ltd the duty would be $45.43/mt. For all other PTA originating or exported from Thailand, the duty would be $62.55/mt, the notification said.
The announcement of imposition of anti-dumping duty has come within a month after the Designated Authority came up with its final findings on the sunset review. The petition seeking review was filed by Reliance Industries Ltd and MCPI Private Ltd.
PTA is primary raw material in the manufacture of polyester chips, which are used in making synthetic textiles. (RKS)

Fibre2Fashion News Desk – India

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