Chinese biofuel producers seek new markets as EU anti-dumping tariffs bite

Chinese biodiesel producers are searching for new markets in Asia as supply to the European Union dries up ahead of anti-dumping tariffs, Reuters reported.
The EU will impose provisional anti-dumping duties of between 12.8% and 36.4% on Chinese biodiesel from hitting over 40 companies including leading producers.
Some larger producers are eyeing the marine fuel market in China and Singapore, the world's top marine fuel hub, as they seek to offset already falling biodiesel exports to the EU, biofuel executives said.
Exports to the bloc have fallen sharply since mid-2023 amid investigations. Volumes in the first six months of this year plunged 51% from a year earlier to 567,440 tons, Chinese customs data showed.
June shipments shrank to just over 50,000 tons, the lowest since mid-2019, according to customs data.
At their peak, exports to the EU reached a record 1.8 million tons in 2023, representing 90% of all Chinese biodiesel exports that year.
The Netherlands was the top importer in 2023, soaking in 84% of China's biodiesel shipments to the EU, followed by Belgium and Spain, Chinese customs figures showed.