EU nations slaps anti-dumping duties on China-made candles
Thursday, 9 April 2009
BRUSSELS, Apr 8 (AFP): European Union nations agreed Tuesday to extend anti-dumping duties on Chinese-made candles following calls from European producers, but importers and distributors quickly slammed the move.
The EU had imposed temporary anti-dumping duties in November that were due to expire in mid-May. The duties vary from company to company but can run as high as 549 euros (729 dollars) per tonne of paraffin or wax.
The new mechanism, agreed on by a committee of experts from the 27 EU countries, will enter force on May 15 and last for five years.
It will have a wide impact, as 90 per cent of the candles imported into the bloc come from China. The imports account for around a third (34 per cent) of Europe's total candle market.
Some 860 million euros worth of candles, or 570 tonnes, were sold in the EU in 2007.
The move came after European candle-makers charged that they were being unfairly undercut by Chinese rivals who are allegedly gaining market share in Europe by selling below the cost of their raw materials.
The EU had imposed temporary anti-dumping duties in November that were due to expire in mid-May. The duties vary from company to company but can run as high as 549 euros (729 dollars) per tonne of paraffin or wax.
The new mechanism, agreed on by a committee of experts from the 27 EU countries, will enter force on May 15 and last for five years.
It will have a wide impact, as 90 per cent of the candles imported into the bloc come from China. The imports account for around a third (34 per cent) of Europe's total candle market.
Some 860 million euros worth of candles, or 570 tonnes, were sold in the EU in 2007.
The move came after European candle-makers charged that they were being unfairly undercut by Chinese rivals who are allegedly gaining market share in Europe by selling below the cost of their raw materials.