European Biodiesel Board signs off on 1.2 million ton limit on Argentine biodiesel imports

In Belgium, during last week’s Trade Defense Committee (TDC) meeting, Member States’ representatives discussed and approved with a large majority anti-subsidy (AS) duties against Argentinean unfair imports of biodiesel. A Price Undertaking agreement between the European Commission and Argentinian producers was also approved. The European Biodiesel Board welcomed the adoption of the definitive AS duties vs. Argentinean unfair exports. The measures were approved by a large majority. The EBB says this is an important confirmation that the EU considers Argentinean Export Taxes an illegal subsidization practice generating unfair and distorting effects in the international market of biodiesel.

A Price Undertaking (PU) agreement between the European Commission and Argentinean producers also got approved by a majority of Member States this morning. Such agreement was part of the package of measures against Argentina. It provides that Argentinean exporters will be allowed to export towards the EU, without paying the duties, a maximum of approximately 1.2 million metric tons of biodiesel every year to be sold at a minimum price level set to create a level playing field. In order to avoid peak exports no more than 37% of this annual volume will be allowed to be traded on a single quarter