Camphor Allied perks up

Yesterday, the Govt imposed the much awaited and needed anti- dumping duty of US$ 122.14-279.78 per tonne on import of a chemical, used in pharmaceutical and fragrance sectors. This duty is on imports coming from China dn Russia, mainly to protect our domestic industry which has been suffering due to cheaper imports.

The Central Board of Excise and Customs (CBEC) said that the levy on the import of 'Dichloromethane (Methylene Chloride)' will remain in place for a period of five years, beginning December 2015.

The Directorate General of Anti-Dumping and Allied Duties had concluded in its report that Methylene Chloride is being imported to India from Russia and China at below normal values and the domestic industry suffered "material injury" by the dumped imports.

This investigation into dumping by these two countries was done on the complaints of Chemplast Sanmar and Gujarat Fluorochemicals in April’15.

Reacting to this, companies which are expected to benefit the most are up in the green. Camphor & Allied intra day went up over 4% at Rs.560. SH Kelkar is up 3.5% at Rs.217.60.