Why is it in the news?

• The Directorate General of Trade Remedies (DGTR) has recommended the imposition of anti-dumping duty on sodium cyanide imported from China, the European Union, Japan, and Korea.

More about the news

• An anti-dumping duty is a protective tariff imposed by a domestic government on foreign imports that are believed to be priced below fair market value. This measure aims to protect domestic industries from unfair competition caused by dumping practices.
• Dumping occurs when a company exports a product at a price significantly lower than its normal selling price in its domestic market.
• The revised definitive anti-dumping duties on sodium cyanide will be applicable for a period of five years.
• Sodium cyanide is utilized in various industrial processes, including the extraction of gold and silver from ores, electroplating, heat treatment of metals, and manufacturing insecticides, dyes, pigments, and bulk drugs.