Poly-spun yarn prices in India increase as a result of orders regarding anti-dumping duty

Category: YARNS

Country: India

by Apparel Resources News-Desk
04-February-2023  |  1 min read

The prices of poly-spun yarn in India have increased by 3-4 per cent in the last fortnight as a result of a legal case fought by a Punjab-based company against the imposition of anti-dumping duty (ADD) on polyester-spun yarn.

A decision by the Central Government has been set aside by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) to impose anti-dumping duty on imports from China, Indonesia and Vietnam.

The Director General of Trade Remedies (DGTR) had recommended the imposition of the ADD on imports from Vietnam, China and Indonesia. On 18th January 2023, the Tribunal ordered the Government to reconsider the recommendations made by the DGTR.

Arisudana Industries Ltd., a Punjab-based company, had filed a case against the DGTR, the Central Government and other concerned parties. With effect from 18th January 2023, all imports of 100 per cent poly-spun yarns are supposed to attract duty, in case the Central Government accepts the recommendations of the DGTR.

“The price of polyester spun yarn increased after the order from the tribunal. There was expectation that the Government may reconsider imposition of anti-dumping duty on imports from China, Indonesia and Vietnam. However, the demand from downstream industry was not so encouraging. Weaving and garment industries are not too keen on purchases,” said an industry insider.

Courtesy: https://apparelresources.com/business-news/trade/poly-spun-yarn-prices-india-increase-result-orders-regarding-anti-dumping-duty/