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See no impact of 16% duty levy on soda ash prices: GHCL
The Indian government has imposed a 16% safeguard duty on soda ash imports from China. This move is likely to benefit companies like Tata Chemicals and Gujarat Heavy Chemicals (GHCL).
The Indian government has imposed a 16% safeguard duty on soda ash imports from China. This move is likely to benefit companies like Tata Chemicals and Gujarat Heavy Chemicals (GHCL). However, Hindustan Unilever is likely to be impacted by this levy.
Soda ash prices were under pressure in Q4 due to oversupply from China but have stabilised in Q1. China was selling at un-remunerative prices.
Commenting on the same, Sanjay Dalmia, Chairman, GHCL, said the safeguard duty was in place till April and has been extended post the two months break.
He does not see an impact on soda ash prices due to this move. "We were offering discounts but have stopped those since the past few weeks."
Dalmia said the company's Romanian subsidiary is yet to begin operations after it was shutdown on account of political instability.
Here is a verbatim transcript of his comments on CNBC-TV18. Also watch the accomapny video.
