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The Finance Ministry has imposed an anti-dumping duty on the import of saccharine from Indonesia.
Saccharine is a compound most commonly used in sugar-substitute sweeteners.It is used to sweeten products such as drinks, candies, cookies, and medicines.
Dumping is the practice whereby the exporting nation sells its goods and services at a price lower than the price at which the importing nation sells the same goods and services within its domestic market.
The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product.
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
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