Centre probing into alleged jump in phenol imports

New Delhi: The government has initiated a probe into alleged jump in Phenol imports, used in making of products like laminates and plywood, following a complaint from domestic players.

Commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has said after determining that there is sufficient evidence to justify initiation of safeguard investigation, it has initiated the probe.

In the probe, the directorate would see whether the imports have increased significantly, and it has caused or threaten to cause serious injury to domestic producers of like and/or directly competing products.

The DGTR said that after examining the application filed by complainants, its prima facie finds that increase in the imports appear to be result of unforeseen developments such as global oversupply and trade measures imposed by China against major Phenol producing countries.