EU 2012 acetic acid imports fall within duty-free quota

22 March 2013 14:50  [Source: ICIS news]

LONDON (ICIS)--The EU imported 801,053 tonnes of acetic acid in 2012, trade statistics from official agency Eurostat showed on Friday. This was well within the annual duty-free import quota of 1m tonnes.

According to the European Commission's Taxation and Customs Union website, 233,476 tonnes of the quota remained unfilled at the end of the year.

The duty-free quota came into effect on 1 January 2012 at 500,000 tonnes, but this was doubled at the end of June.

A new 1m tonne quota came into effect at the beginning of 2013. Imports from most countries will be liable to a tariff of 5.5%, should the quota be exceeded this year.

As of 20 March, 862,958 tonnes of the 2013 quota were yet to be allocated.

By: Samuel Weatherlake
+44 20 8652 3214

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