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EU backs antisubsidy duties on Argentinian biodiesel: trade group

Increase font size  Decrease font size Date:2019-02-11   Views:116
EU member states backed a proposal to impose antisubsidy duties on Argentinian biodiesel imports from February 28 onward, the European Biodiesel Board said Wednesday.

The EU Trade Defence Committee also backed an exemption clause for those producers who agree to a minimum price undertaking, which will enable Argentinian sellers to export a maximum of around 1.2 million mt/year of soybean-derived biodiesel (soybean methyl ester) to the EU at a minimum price without encountering duties, it said.
As yet, there were no details of the formula that will derive such a value, although the EBB called for "a level playing field."

EU representatives were not immediately available for comment.

In order to avoid an influx of material, the proposal also outlines that no more than 37% of the annual volume will be allowed to be traded within a single quarter.

"EU authorities have the power to withdraw the agreement and simply apply the general ad valorem duty of around 30% to all Argentinian biodiesel exports towards the EU," the EBB added.

The most recent vote to reinstate the anti-subsidy duties follows a period of consultation that began in December. Once applied at the end of February, duties are normally in place for five years.

The European Commission was forced to remove duties that had been in place on 13 Argentinian and Indonesian biodiesel producers in March 2018 after the World Trade Organization and European Court of Justice ruled in favor of importers.

This resulted in an influx of imported blendstock Indonesian palm oil methyl ester (PME) and Argentinian SME, sparking some of the lowest prices in European fatty methyl ester 0 (FAME 0) on record.
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