EU to impose fines on biodiesel imports from Argentina, Indonesia

21 May 2013 17:38  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--The European Union is expected to impose punitive duties on imports of biodiesel from Argentina and Indonesia, charging them with selling the product at unfairly low prices, sources said on Tuesday.

According to sources familiar with the trade fight, the European Commission has set provisional tariffs between 7-11% for imports from Argentina and between 0-10% for those from Indonesia.

This has not been confirmed by the Commission and calls to the press office seeking comment were not returned by the time of publication.

Provisional duties are expected to be set by 29 May, sources said. The investigation will continue with member states set to vote on definitive duties before the end of November, a source added.

Argentina and Indonesia have fought back, saying their measures comply with World Trade Organisation (WTO) rules.

Indonesia has said it might complain to the WTO if the EU imposed penalties, while Argentina issued a complaint at the WTO last week against EU rules for importing and marketing biodiesel.

European trade relations with Argentina have worsened since April last year, when President Cristina Fernandez seized control of oil firm YPF from its parent company, Spain's Repsol.

The EU has said it suspects Argentina of illegally dumping biofuel on the EU market, an allegation that Argentina says has left its producers running at half their capacity.

By: Leela Landress
+1 713 525 2653

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