Energy EU extends import duties on U.S. biodiesel to 2020

EU extends import duties on U.S. biodiesel to 2020

biodiesel in green barrels
biodiesel in green barrels

The European Union is extending anti-dumping and anti-subsidy duties imposed on U.S. biodiesel imports for a further five years, until September 2020, maintaining its defence against trade in the renewable fuel source.

The bloc set the duties in 2009 on a number of U.S. producers of biodiesel, including Archer Daniels Midland Co and Cargill Inc [CARG.UL], effectively bringing to a halt $1 billion in annual trade.

The EU decided there was still a risk of harm if the duties were lifted and so chose to extend them, an official EU journal stated on Tuesday.

At issue was a U.S. tax credit of $1 per gallon of biodiesel produced, which the European Commission judged was harming European producers.