Union Government imposes anti-dumping duty on N-Butyl Alcohol
The Union Government has imposed an anti-dumping duty of up to US 149 dollars on imports of N-Butyl Alcohol from five countries viz. European Union (EU), Malaysia, Singapore and US.
In this regard, Central Board of Excise and Customs (CBEC) has issued a notification based on the recommendation of Directorate General of Anti-dumping and Allied Duties (DGAD).
DGAD in its investigation had found out that Normal Butanol, or N-Butyl Alcohol exported from five countries mentioned above was found to be below normal value compared to domestic value, thus causing material injury to domestic injury.
N-Butyl Alcohol: It is a by-product of the fermentation of sugar and other carbohydrate. It is used as artificial flavorant and is present in many foods and beverages. It is also used in a wide range of consumer products.
Anti-dumping duty: It is counter import measure used by a country under the multilateral World Trade Organisation (WTO) regime to protect its domestic producers and market from below-cost/cheap imports. It varies from product to product and from country to country.
Categories: India Current Affairs 2017