Disclosure of Events/ Information under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015- Update on the Countervailing Duty (CVD) order
LTFOODS · price
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Awaiting price reaction for this filing.
The US Department of Commerce has issued a final order revising the countervailing duty (CVD) rate on organic soybean meal exports from India by Ecopure Specialities Limited, a step-down subsidiary of LT Foods. The duty rate has been significantly reduced from a provisional 340.27% to a final 75.48%. This follows the administrative review for the period January–December 2023, during which Ecopure recorded sales of around Rs. 50 crore. The earlier provisional rate had been set using the 'adverse facts available' methodology. The revised rate still applies to Ecopure's US exports of organic soybean meal.
This is positive news for LT Foods as the sharp cut in the CVD rate from 340.27% to 75.48% reduces the duty burden on Ecopure's US-bound exports, though a 75% duty still remains a meaningful headwind. The stock may see a modest positive reaction, but the impact is somewhat limited as the affected entity (Ecopure) is a smaller step-down subsidiary.