class="post-template-default single single-post postid-255200 single-format-standard custom-background group-blog masthead-fixed full-width singular wpb-js-composer js-comp-ver-5.2.1 vc_responsive"
US Commerce Department Proposes CVDs on Imports Of Some Biodiesel | KTIC Radio

US Commerce Department Proposes CVDs on Imports Of Some Biodiesel

US Commerce Department Proposes CVDs on Imports Of Some Biodiesel
Image courtesy of DTN/PF

An initial finding that Argentina and Indonesia are subsidizing biodiesel production has prompted the U.S. Department of Commerce (DOC) to set preliminary countervailing duty rates of up to 68 percent on imports of the product from the two countries.

DOC’s preliminary determination means the U.S. Customs and Border Protection Service will require cash deposits on imports of Argentine and Indonesian biodiesel ranging from 50.29% to 64.17% for biodiesel from Argentina, and 41.06% to 68.28% for biodiesel from Indonesia. The levels vary based on the companies involved.

DOC also found that “critical circumstances” exist in the Argentina investigation relative to two companies — Vicentin S.A.I.C. and LDC Argentina S.A., and will instruct Customs and Border Protection Services to collect the required cash deposit rates retroactively on all entries of biodiesel from these companies effective 90 days prior to publication of the preliminary determination in the Federal Register. The countervailing duty (CVD) rates would be 50.29% for LDC Argentina and 64.17% for Vincentin. All others from Argentina will be subject to a 57.01% duty rate for all other Argentinian producers and exporters.

Cash deposit requirements will be imposed on the other Argentine companies effective on the date the preliminary decision is published in the Federal Register.

In the Indonesia CVD investigation, Commerce has calculated preliminary subsidy rates of 41.06% for Wilmar International Ltd. and 68.28% for P.T. Musim Mas. Commerce determined a rate of 44.92% for all other Indonesian producers and exports. There is no mention of “critical circumstances” relative to Indonesian biodiesel which signals those duties become effective the date the determinations are published in the Federal Register.

 

© 2017 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information
Share: