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CVD on fibreboard import mooted

CVD on fibreboard import mooted

CVD on fibreboard import mooted

New Delhi THE commerce ministry has recommended imposition of countervailing duty (CVD) on fibreboard imported from five countries, including Vietnam, Malaysia and Thailand, for five years to guard domestic players from subsidised inbound shipments, according to a notification. Fiberboard is a type of engineered wood product that is made out of wood fibres. It is used in building and construction, furniture, industrial, and handicrafts purposes.

Following a complaint by domestic manufacturers, the ministry's investigation arm Directorate General of Trade Remedies (DGTR) conducted a probe and has recommended the duty on fibreboards exported to India from Indonesia, Malaysia, Sri Lanka, Thailand and Vietnam at subsidised prices. "The authority recommends imposition of definitive countervailing duty equal to the lesser of margin of subsidy and margin of injury for a period of five as to remove the injury to the domestic industry," the DGTR has said in a notification.

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