EU extends tariffs on U.S. biodiesel for five years

Verbio SE

02/08/2021 12:21

BRUSSELS, Aug 2 (Reuters) - The European Union will retain
its tariffs on U.S. biodiesel for a further five years after
concluding that removing them would likely lead to a surge of
imports at artificially low prices. 
    The tariffs, dating back to 2009, will be extended until
2026, the EU official journal said on Monday.
    The European Commission, which reviewed the case, concluded
that U.S. 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.  
    It said U.S. producers were already selling to third
countries at prices below those in the United States, meaning
they were being dumped.
    It also said U.S. producers were benefiting from subsidies,
including tax credits, grants and loan guarantees.
    The anti-dumping duties range from zero to 198.0 euros 
($235.36) per tonne, and duties related to subsidies from 211.2
to 237.0 euros 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  ADM.N  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  VBKG.DE .
     
($1 = 0.8413 euros)

 (Reporting by Philip Blenkinsop; editing by David Evans)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869:
@reutersPhilB;))