24.07.2009: For the next five years, duty will have to be paid on biodiesel from the USA when it is imported into the EU. Associations have welcomed the decision.
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| Photo: dpa |
The ministers of finance of the EU have agreed to prolong the import duties on biodiesel from the USA that were imposed for the first time in March 2009. The measure includes anti-dumping as well as anti-subsidy surcharges. The compulsory extra charge ranges from € 230 to 409 per ton, depending on the headquarters location of the respective US-company.
From 2004 to 2007, over 1.1 million tons of biodiesel were imported into the EU. The average asking price was € 580 per ton. Predatory competition was noticeable, especially in pure fuel marketing. The USA is subsidizing the export of biodiesel with an amount equivalent to about € 0.22 per litre. The current decision was preceded by investigations that led to the imposition of an import surcharge on US biodiesel in March for an initial period of four months. With the latest decision, it has been extended to five years.
The investigations confirmed evidence provided by the European Biodiesel Board that US producers of biodiesel export biodiesel to Europe at dumping prices, receive Federal and State subsidies (particularly tax credits) and that the exports of dumped and subsidized biodiesel were causing material injury to the biodiesel industry in the EU.
The European Biodiesel Board (EBB) welcomed the finance ministers’ decision. For over two years, US biodiesel had been sold in Europe for less than the raw material price, the EBB complained.
Previously published at: http://www.sunwindenergy.com