The anti-dumping battle against the import of Chinese silk has ended after Chinese firms agreed on minimum prices, industry sources said here on December 12.
After the one-and-a-half year anti-dumping case, China will sell silk fabrics at minimum prices, ranging from US$ 1.662- 4.526 per meter.
Earlier, they were selling at 30 percent more then the current price and if Chinese firms sell silk fabrics at prices lower than the minimum set price they will be forced to pay anti-dumping duties according to the price disparity.
On the other hand, Wang Tao, an official with the China Chamber of Commerce for Import and Export of Textiles pointed out that the current result satisfied both sides and will fulfill India's demand for the product and helps China remove less competitive producers.
In May, a preliminary ruling stated that the import of Chinese silk fabrics constituted dumping and harmed Indian companies.
