Taipei--India has imposed an anti-dumping tariff on Taiwan's chemical exports after an investigation found that Taiwanese hydrogen peroxide firms sold their products at unfairly low prices in the Indian market, according to the Ministry of Economic Affairs (MOEA).
The MOEA said that Taiwan's hydrogen peroxide exporters face an anti-dumping duty of US$56.33 per ton as the probe found that the exports from Taiwan imposed material adversary damage on the Indian hydrogen peroxide market.
In addition to Taiwan, India has also slapped a financial burden on hydrogen peroxide firms from Bangladesh, South Korea, Indonesia, Pakistan and Thailand, which have faced anti-dumping tariffs ranging between US$27.81 and US$117.94 per ton, the MOEA said.
The MOEA said that the tariffs will continue for five years.
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 also has therapeutic uses as an antiseptic and antibacterial agent.
National Peroxide Ltd. and Hindustan Organic Chemicals Ltd., two of the major Indian chemical firms, had jointly filed the application to request the local authorities to launch a dumping probe against hydrogen peroxide exporters from the six countries.
India's Directorate-General of Anti-dumping and Allied Duties (DGAD) in its final ruling concluded after an investigation conducted in 2016 that the chemical was dumped in India and that the dumping has impacted the domestic industry. The DGAD recommended anti-dumping duties against the six countries and the Indian Ministry of Finance has decided to impose the tariffs.
The MOEA said that Taiwan was the smallest hydrogen peroxide supplier in 2014 to India among the six countries in the anti-dumping case, selling 2,034 tons of hydrogen peroxide worth US$730,127 to the country.
In 2015, Taiwan's hydrogen peroxide exports to India fell to 482 tons and were valued at US$171,454. Last year, Taiwan's exports fell to zero and such a trend continued into this year, the MOEA said.
According to the MOEA, China, Israel and Singapore were the three largest hydrogen peroxide buyers from Taiwan, and their purchases totaled US$2.63 million, US$310,000 and US$190,000, respectively, during the first five months of this year.
The MOEA said that so far no Taiwanese hydrogen peroxide exporters have responded to India's move to impose the anti-dumping duty.
The ministry said, however, that the MOEA will provide necessary assistance to any exporters which will seek legal redress from the anti-dumping duty.
Source: Focus Taiwan News Channel