EU ministers prolong duties on US biodiesel imports

Publication date: 08 July 2009

European finance ministers approved definitive anti-dumping and anti-subsidy duties on imports of US biodiesel on Tuesday, prolonging by five years temporary duties imposed in March.

The duties will apply for five years from entry into force the day after publication in the EU's official journal, which is expected to be this week. The anti-dumping duties will range from €68.60 to €198 per tonne and the anti-subsidy, or countervailing, duties from €211.20 to €237 per tonne.

The European Biodiesel Board "applauded" Tuesday's decision. For more than two years US biodiesel has been sold in Europe at a price below even the vegetable oil raw materials used by European producers to make biodiesel, it said in a press release.

At their meeting in Brussels, EU finance ministers rubber-stamped a deal reached with MEPs on spending €3.98bn of EU funds on strategic energy projects in 2009-10.

Ministers were also presented with a progress report on the "Marguerite fund", a European equity fund for energy, climate change and infrastructure that is to be launched by the European Investment Bank in December. So far €500m of a planned starting capital of €600m has been raised, the council was told.

PRESS RELEASE 2954th Council meeting Economic and Financial Affairs Brussels, 7 July 2009

European Biodiesel Board: PRESS RELEASE EU Ministers endorse definitive measures against US biodiesel – EBB praises critical decision for EU producers

Source: ENDS