US DoC Significantly Reduces CVD Rate for LT Foods' Subsidiary Ecopure

LT Foods Ltd. has announced that the US Department of Commerce, International Trade Administration (US DoC) has significantly revised the countervailing duty (CVD) rate applicable to Ecopure Specialities Limited (Ecopure), a step-down subsidiary of the Company. The CVD rate has been reduced from 340.27% to 75.48% pursuant to the final determination issued in the administrative review for the period January 1, 2023 to December 31, 2023. This revision follows the US DoC's initial application of the ‘adverse facts available’ (AFA) methodology to Ecopure, resulting in a provisional CVD rate of 340.27% on Ecopure's sales of Rs. 50 crore during the same period.