The latest duties come just two weeks after a budget deal in the U.S. Congress reinstated a $1 per gallon biodiesel tax credit, which is expected to improve profitability for domestic producers.
(Source: U.S. Commerce Department, MecoPress, 23 Feb., 2018) Contact: U.S. Department of Commerce, www.commerce.gov Department
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Imports, mostly from Argentina, made up nearly half of U.S. biodiesel consumption of 2 billion gallons in 2016. Argentinian biodiesel imports were valued at $1.2 billion, according to the U.S. Commerce Department data.
The increased duty on imports would likely boost U.S. prices and encourage U.S. domestic biofuel production. (Source: Successful Farming, US Dept. of Commerce, Reuters, 23 Aug., 2017)
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According to the NBB, Argentine and Indonesian companies are violating trade laws by flooding the U.S. market with dumped and subsidized biodiesel, and are injuring American manufacturers and workers.
Biodiesel imports from Argentina and Indonesia surged by 464 pct from 2014 to 2016 and taken 18.3 pct of market share from U.S. manufacturers.
According to the Commerce Department there is evidence that dumping margins could be as high as 26.54 pct for Argentina and 28.11 pct for Indonesia.
(Source: NBB, April, 2017) Contact: NBB, (573) 635-7913, email@example.com, www.nbb.org
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