UPDATE: India significantly increased anti-dumping duty on PET resin imports from China’s Wankai

The Indian Ministry of Commerce & Industry has announced a sharp revision in the anti-dumping duty (ADD) imposed on PET bottle-grade resin imports from Wankai New Materials Co. Ltd, a major Chinese supplier. Effective immediately, the duty has been raised to $40.41/ton, up from the previous rate of $15.54/ton. However, ADD rates for other Chinese producers remain unchanged.

This decision follows an investigation which revealed that certain Chinese exporters, including Wankai, have been dumping PET resin into India at prices significantly below domestic market rates. This practice has reportedly inflicted substantial damage on local manufacturers, necessitating the revision of duties to protect the domestic industry.

Notably, Wankai New Materials accounts for a staggering 87% of India’s total PET resin imports, underscoring its dominant position in the market. By targeting Wankai specifically, the Ministry appears to be addressing the disproportionate impact of its imports on the Indian market.

India first introduced ADD on PET resin imports from China in March 2021 for a five-year period. The latest revision suggests a renewed commitment to safeguarding domestic industries from unfair trade practices.

mposed anti-dumping duty on PET imports from China in March 2021 for a period of five years.  

Details of the ADD rates are as follows: