the European Union (EU) decided to not impose sanctions Argentine biodiesel to course dumping and advanced in a deal that resulted in the adoption of the income of the local biofuel in «certain volumes and prices.» After a favorable WTO ruling, Argentina had resumed its exports of biodiesel to Europe with a million tonnes. But it was interrupted in August 2018 by a proposal of the European industrialists who accused the country of subsidizing these shipments. In September of last year, under the pressure of producers, the European Commission (EC) decided to initiate an investigation into alleged subsidies to the export industry in argentina, to reimpose the import of biodiesel tariffs that would go 25% 33.4% . The measure announced Wednesday will allow return to the export levels that historically had the country, estimated at $1,000 million.
According to the Ministry of agro-industry of the nation were exported until August 2018 little more than one million tonnes to Netherlands, Malta and Belgium, only importing countries of the European Union (EU) by almost $ 700 million. The figure dropped considerably from the suspension.
«It is a reasonable and important agreement more if one takes into account important harvest of soybeans that it is estimated that we we have, so having this open market for biodiesel becomes necessary,» said Luis Zubizarreta, President of the Argentina Chamber of Biofuels.
Now fixed tariffs were reduced to 6.5%, as well as minimum prices and a cap on the exportable quantities: last level may not exceed a growth rate of 2% per year over the next five years.
in this note: