Russian Exporters to Appeal CIT Decision on CVD Respondent's Profit Ratio

Russian exporters PhosAgro, Apatit and Industrial Group Phosphorite will appeal a January Court of International Trade decision sustaining the Commerce Department's use of exporter PhosAgro's profit before tax number instead of its gross profit mark when calculating the company's phosphate mining rights benefit (see 2401190037). The exporter will take the case contesting the countervailing duty investigation on phosphate fertilizers from Russia to the U.S. Court of Appeals for the Federal Circuit. In its decision, the trade court rejected PhosAgro's clam that its gross profit number "more accurately reflects the commercial reality" of its pricing process (The Mosaic Co. v. United States, CIT Consol. # 21-00117).