Product description – The product under consideration is virgin polyethene terephthalate (PET) resin having an intrinsic viscosity of 0.72 decilitres per gram or higher excluding recycled PET Resin.
HS Codes – 3907 6110, 3907 6190, 3907 6930 and 3907 6990.
Uses – PET Resins are used for manufacturing preforms, which are then converted into PET bottles and jars for the storage of mineral water, carbonated soft drinks, edible oils and pharmaceutical products.
Country Involved – China
Exporter Involved – Wankai New Materials Co., Ltd. / Zhejiang Wankai New Materials Co., Ltd. (“Wankai”)
Applicants – IVL Dhunseri Petrochem Industries Private Limited and Reliance Industries Limited
Period of investigation – 1st January 2023 – 30th September 2023
Facts of present case – The anti-dumping investigation into imports of PET Resin from China was initiated vide notification dated 1st October 2019. The Authority recommended imposition of anti-dumping measures on imports of PET Resin for a period of 5 years. The Ministry of Finance imposed the anti-dumping duty vide Notification No. 18/2021-Customs (ADD) dated 27th March 2021. The said duties are set to expire on 26th March 2026. The applicants have filed an application before the Authority alleging absorption of anti-dumping duty imposed on imports of PET Resin produced by Wankai. The applicants have claimed that the export price for Wankai has decreased post imposition of anti-dumping duty, without there being a commensurate change in the cost of production. Further, while the raw material cost and overall cost of production have also declined, the decline in the export price of Wankai is much higher.