The Saudi polypropylene exports to India will be subject to dumping duties.
SABIC sales will not be affected by the Indian decision to subject Saudi polypropylene exports to dumping duties, said by Mohamed Al-Mady, the chief executive officer of Saudi Basic Industries (SABIC) on the website of Al Arabeya.
India last week levied a duty of 6.5% per ton on Saudi exports of polypropylene products, in an effort to protect its own producers of the chemical. Starting from next July, the dumping duties will account for $177 per ton for a period of years.
The company stopped exporting polypropylene during the Indian investigation in the case of dumping, confirmed by Al-Mady to Al Watan Newspaper.
He explained that the company`s exports to India are very limited and did not exceed 120 tons during the mid of 2008 comparing to hundreds of thousands of tons, produced by the company and marketed for different international markets.
“The next stop for Saudi petrochemical producers will be the World Trade Organization”, Abdulrahman al-Zamil, a trade representative for Saudi petrochemical makers, told Bloomberg. Al-Zamil heads the Riaydh-based Export Development Center, which promotes Saudi exports other than crude oil.
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