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This follows a unanimous decision on 11 September 2020 by the U.S. International Trade Commission (ITC) that there is reasonable indication that the U.S. methionine industry has been materially injured by imports sold by the three countries at less than fair value.
Novus International, Inc. filed antidumping petitions on 29 July 2020 requesting that the ITC and Commerce formally investigate methionine imports from the countries of France, Spain and Japan consistent with the World Trade Organization Antidumping Agreement. The petitions include information regarding the increase in methionine imports from 2017-2019 that led to substantial price depression and harm to the domestic methionine industry. Dumping, as an illegal activity, is taken seriously by the international trade community and governments have processes in place to ensure proper investigations occur.
“This preliminary decision confirms what we believed – that our industry has been harmed by unfair trade practices,” said Ed Galo, Novus vice president and chief commercial officer – Americas. “Fair and competitive trade is critical to the health of our industry and all industries. Novus is grateful that the ITC and Commerce exists to ensure fair trade for all.
The final phase of this investigation is expected to begin next month and will conclude with the final determination regarding the injury or threat of injury to the U.S. methionine industry from unfairly traded methionine imports. If the ITC reaches a final determination that low-priced methionine imports have caused injury to the domestic industry and Commerce issues a final determination that France, Spain and Japan illegally dumped foreign products, importers from those countries may have to pay a duty on methionine imports, which would be collected by the government as a tax.
March 1, 2021 - Novus International, Inc.
