Tariffs on US biodiesel to remain for five more years
The European Union looks set to retain its tariffs on US biodiesel for an extra five years after deciding that removing them could lead to a surge of imports at artificially low prices.
The tariffs, dating back to 2009, will be extended until 2026, Reuters reported on August 2.
The European Commission, which looked into the case, concluded that US producers could increase to full capacity and also divert sales from some of their exports from less profitable markets to the European Union, the world's largest market.
The report revealed that US producers were already selling to third countries at prices below those in the US - meaning they were being dumped.
It also concluded that US producers were benefiting from subsidies, including tax credits, grants and loan guarantees.
The anti-dumping duties range from zero to €198 ($235.36) per tonne, and duties related to subsidies from €211 to €237 per tonne. The duties are not cumulative, so whichever is the higher rate of the two forms of duties applies.
They will continue to be imposed on a range of companies, including Archer Daniels Midlands Co and Cargill.
The initial case was brought by the European Biodiesel Board on behalf of EU producers such as France's Saipol and Germany's Verbio.
The tariffs, dating back to 2009, will be extended until 2026, Reuters reported on August 2.
The European Commission, which looked into the case, concluded that US producers could increase to full capacity and also divert sales from some of their exports from less profitable markets to the European Union, the world's largest market.
The report revealed that US producers were already selling to third countries at prices below those in the US - meaning they were being dumped.
It also concluded that US producers were benefiting from subsidies, including tax credits, grants and loan guarantees.
The anti-dumping duties range from zero to €198 ($235.36) per tonne, and duties related to subsidies from €211 to €237 per tonne. The duties are not cumulative, so whichever is the higher rate of the two forms of duties applies.
They will continue to be imposed on a range of companies, including Archer Daniels Midlands Co and Cargill.
The initial case was brought by the European Biodiesel Board on behalf of EU producers such as France's Saipol and Germany's Verbio.
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