The US Department of Commerce confirmed on Wednesday evening its preliminary finding that Argentina and Indonesia engaged in dumping of biodiesel and imposed dumping duties ranging from around 60 to nearly 277 percent.
[February 22, 2018 | Financial Times]
The initial finding from the commerce department in October said exporters from Argentina had sold biodiesel at dumping margins of 54.4 to 70.5 per cent, while exporters from Indonesia sold it at a margin of 50.7 per cent.
The final determination, originally slated for early November, increases those ranges: the department said it found exporters from Argentina sold biodiesel in the US at 60.4 to 86.4 per cent less than fair value, while that sold by exporters from Indonesia sold it at 92.5 to 276.7 per cent less than fair value.
The department said in a statement it would instruct US Customs and Border Protection to collect cash deposits from importers of biodiesel from the two countries based on those final rates.
Wilbur Ross, US commerce secretary, said the decision “allows US producers of biodiesel to receive relief from the market-distorting effects of foreign producers dumping into the domestic market”.
The US imported just under 2m tonnes of plant-based biodiesel fuel derived from vegetable oils or animal fats from Argentina and Indonesia in 2016, about 80 per cent of total imports.