Paper stocks edge higher after IPMA urges anti-dumping duty on Virgin Multi-Layer Paperboard imports from Indonesia

Indian Paper Manufacturers Association (IPMA) has urged the government to immediately impose anti-dumping duty on imports of Virgin Multi-Layer Paperboard from Indonesia, citing losses of ₹242 crore suffered by domestic manufacturers due to low-priced imports.

The IPMA said that the Directorate General of Trade Remedies (DGTR) has already established dumping and recommended remedial duties following a detailed investigation. The association stressed that the urgency has increased with the Minimum Import Price (MIP), imposed as an interim measure against low-priced imports, set to expire on September 30, 2026.

According to IPMA, the MIP cannot replace the definitive trade-remedial measures recommended by the DGTR. It said the DGTR found that the surge in imports had caused material deterioration in the domestic industry, resulting in financial losses and a negative return on capital employed.

The IPMA stated that imports of Virgin Multi-Layer Paperboard from Indonesia rose sharply from just 296 tonnes in FY2021-22 to 62,935 tonnes in FY2024-25. During the same period, CIF import prices fell by 25 per cent. DGTR found that these imports were priced materially below the selling price and even the cost of sales of the Indian industry, forcing domestic manufacturers to reduce prices and sell at a loss to compete.

Meanwhile, paper stocks closed with buoyancy after the paper manufacturers’ association urged an anti-dumping duty on paperboard products from Indonesia. Andhra Paper share price jumped nearly 2%, and JK Paper shares edged 1.4% higher on Thursday. On the flip side, West Coast Paper, Tamil Nadu Newsprint & Paper shares plunged as much as 7% on Thursday. While Sheshasayee Paper and NR Agarwal Industries shares closed modestly lower, with 0.4% losses.

Apart from the above announcement, paper stocks were in focus after ITC completed the acquisition of Central Pulp & Paper from Aditya Birla Real Estate for ₹3,498 crore on August 7. The acquisition increases ITC’s paper capacity by 50% to 1.5 million tonnes per annum.