News in Brief
China launches probe into alleged methionine dumping
The period under review in regards to the potential dumping of methionine is 2018. However, the Chinese officials said they will also determine whether its domestic industry suffered losses in 2016 to 2018.
The investigation is set to last 12 months. However, according to local media, it could be extended to October 2020 if needed.
Dumping, in economics, is a kind of injuring pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product.
Source: WTO
The investigation reportedly follows a complaint from Ningxia Unisplendour Tianhua Methionine Co Ltd., a leading manufacturer of solid DL-Methionine in China, according to an official statement, cited by Chinese media.
Germany headquartered methionine producer, Evonik, said it fully supports the investigation by the Chinese authorities and that it will provide the competent bodies with all the necessary information and data. It produces the essential amino acid DL-methionine, marketed under the brand name MetAMINO.
Evonik manufactures MetAMINO at four locations in Antwerp in Belgium, in Alabama in the US, in Singapore and in Wesseling in Germany. The largest plant is located in Antwerp.
The company said, relying on this production network, it supplies customers in more than 120 countries, which ensures a “structurally reliable supply of methionine on a global basis - regardless of geographic location.”
