The emphasis of the Indian government on usage of domestically produced Petcoke in the country is clear.
The government has increased by Basic Customs Duty on imports of Petcoketo 10% with immediate effect from 2.5% earlier. The raise in the duty has followed the relaxation in the Petcoke ban, with the Supreme Court on 13Dec’17 allowing usage of Petcoke by the cement and lime industries.
The government also favors lowering the imports, and the hike in the import duty is aimed at encouraging usage of domestic Petcoke.
In another development, Reliance Industries Limited, the largest Petcoke producer in India, has hiked its ex-works price to INR 8,150/MT, with effect from today (16 Dec’17), as the demand is going to strengthen from now on. Remarkably, the latest price is the highest during 2017.
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