The United States has extended the anti-dumping duty on Indian preserved mushrooms for another five years. The US International Trade Commission (USITC) has “determined that revoking the existing anti-dumping duty orders on preserved mushrooms from Chile, China, India, and Indonesia are likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.
This will affect the domestic industries in India. Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, Rajasthan and Jammu & Kashmir are the major states which are producing the commodity. Solan in Himachal Pradesh is popular as ‘Mushroom City of India’. Indian mushrooms are exported to the U.S., UAE, Russia and Israel.
What is Dumping?
Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. This is an unfair trade practice which can have a distortive effect on international trade. Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO.
G.K. Related Question:
In which year WTO formed?
Which Country serves as the Headquarter of WTO?
Who is the Director General of WTO?
