India’s import of paper declines 25% in first three quarters of FY19

Why in news?

• India’s import of paper and paperboard declined by 25 per cent in the first nine months of the current financial year due to the diversion of export consignments to China from surplus countries, including South Korea and the members of the Association of Southeast Asian Nations (Asean).
• Data compiled by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), under the Ministry of Commerce, showed India’s total import of paper and paperboard at 1.1 million tonnes for the period between April and December 2018, as against 1.47 million tonnes in the corresponding period last year.
• The sharp decline in import is set to help domestic paper mills further increase prices of their products ahead of the ensuing academic year. Printers of books and notebooks will face the heat of an elevated paper price.
• chart Paper mills in India have been going through a tough phase because imported paper and paperboard, especially from China, Asean and South Korea under various free-trade agreements and bilateral treaties.
• China started importing low-grade papers like craft paper and boards. So, countries with surplus paper have started diverting their shipments to China, resulting in lower supply to India.

(Industry)(Business standard)

Pic courtesy:Business Standard