Editor's PickInvesting Ideas

BoC to charge provisional duties on Vietnam cement

THE Bureau of Customs (BoC) will charge provisional anti-dumping duties on some cement imports from Vietnam for four months, after they were found to have injured the domestic cement industry.

The BoC, in a statement on Wednesday, said tariffs in the form of cash bonds will be imposed for four months after an order it issued on Dec. 20.

The Department of Trade and Industry (DTI) imposed anti-dumping duties of as much as 32% on some Portland cement brands from Vietnam.

The DTI in an investigation found some exporters have been dumping cement in the Philippines, to the detriment of the domestic industry.

This means that Vietnam-based exporters have been selling products in the Philippines at lower prices than their value in the originating market.

Philippine cement manufacturers had petitioned for the anti-dumping duties. On Type 1 cement, duties start at $1.02 per metric ton (/MT) or 2.69% of the price, to $10.53/MT or 31.87% of the price.

DTI said Type 1P cement exported from Vietnam will be carry the provisional duties ranging from $1.16/MT or 3.8% of the price, to $12.79/MT or 29.20% of the price. — Jenina P. Ibañez

Related Articles

Back to top button
Close
Close