Borax Morarji is likely to be one of the biggest beneficiary of the recent anti-dumping duties imposed by the Central government on imports of borax decahydrate, a derivative of boric acid.
Borax Morarji is one of the largest producer of borax decahydrate, boric acid and its derivatives in the country with a capacity of 14,000 tonne per annum (tpa) at its plant in Ambernath, near Mumbai.
With the imposition of anti-dumping duties, the cost of imports, mainly from China, will be higher by at least Rs 5,000 per tonne. Imports from Turkey will be costlier by about Rs 2,000 per tonne.
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Till recently, Chinese producers were dumping borax decahydrate in the price range of Rs 19,000-20,000 per tonne, which is much lower than the price quoted by local producers, at around Rs 21,000-22,000 per tonne, excluding excise and other duties of 16 per cent, analysts said.
The Union ministry of finance, on June 10, had imposed an anti-dumping duty on imports of borax decahydrate mainly from China and Turkey.
The department has fixed a price of $484 per tonne as the base price for imports from China and an anti-dumping duty as the difference between the landed import price and the fixed price.
This measure is expected to alleviate the hardship of local producers, some of whom were on the verge of closure.