EU Anti-subsidy Duties Proposed For Indonesia Biodiesel
The European Commission is consulting on provisional anti-subsidy measures on imports of biodiesel originating from Indonesia.
The rates of the proposed provisional anti-subsidy duty expressed on the CIF Union border price, customs duty unpaid range between 8pc and 18pc.
EU member state trade experts meet on 24 July as part of the confidential consultations. They will need to ratify the commission's proposal by vote.
Provisional measures, if imposed, are expected to be published before 6 September and final duties by 4 January 2020.
Firms specifically named in the proposal include the Musim Mas Group (16.3pc), the Wilmar Group (15.7pc) and the Permata Group (18pc), while duties on first resources are proposed at 8pc and those for other companies not listed are 18pc.
Biodiesel spot prices in the ARA region have firmed significantly on the news. Barges totalling 20,000t changed hands in today’s afternoon assessment window, with benchmark prices for Fame 0 and rapeseed OME firming by $34/t and $13/t to $828/t and $943/t respectively.
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