European Union imposes Five-year duties on U.S. Biodiesel

The European Union has imposed anti-dumping duties that will come into effect on July 12, 2009 on biodiesel imports from the U.S. - the EU’s largest foreign supplier of biodiesel, providing an estimated $976 million US (€ 700 million) worth of biodiesel to a total market worth $7 billion US (€ 5 billion). The duties will range from $32 to $57 US /160 lbs (100 kg) and will be in effect for five years. This follows previously enacted temporary duties (as detailed in our March 13, 2009 edition) following claims by European producers that their American counterparts had been benefiting from tax breaks and unfair competition. (Source: EU Business, July 7, 2009/Forbes, July 7, 2009)