Starting November 15, China will introduce temporary anti-dumping measures against brandy suppliers to the European Union. TASS reports this with reference to the Ministry of Commerce of the People’s Republic of China.
According to the department, the decision was made based on the results of an investigation launched in early January, during which the artificial reduction of prices by European suppliers was confirmed. This resulted in a “threat of property damage” to which Chinese manufacturers were exposed.
The Ministry of Commerce of the People’s Republic of China announced this for the first time on August 29, but without introducing anti-dumping measures.
Now the situation has changed. And importers of European brandy must present a bond or letter of guarantee to Chinese customs if they are alcoholic products in containers of less than 200 liters.
As indicated in the annex to the statement of the Chinese Department of Commerce, the dumping margin of the manufacturer Martell & Co is 30.6%, Jas Hennessy & Co – 39%, Remy Martin & Co – 38.1%. Another 61 European companies reached 34.8%.
