Pernod Ricard (EPA:PERP) has reached an agreement with Chinese authorities regarding an anti-dumping investigation into cognac imports, News.az reports citing Investing.
The company announced it welcomes the conclusion of China’s Ministry of Commerce (MOFCOM) cognac anti-dumping investigation and has agreed to a minimum price undertaking.
Pernod Ricard emphasized that this agreement does not constitute an acknowledgment of dumping practices on its part.
The spirits maker also noted that the additional costs arising from the agreed minimum price undertaking are significantly less than what would have resulted if provisional anti-dumping tariffs had been made permanent.
This resolution comes after China had been investigating potential dumping practices related to cognac imports, which affected Pernod Ricard’s business in the Chinese market.
