EU Announces Extra Duties On Indonesian Biodiesel Imports To Support EU Producers
Fahad Shabbir (@FahadShabbir) Published August 13, 2019 | 07:20 PM
MOSCOW (UrduPoint News / Sputnik - 13th August, 2019) The European Commission on Tuesday imposed countervailing duties of 8 to 18 percent on imports of Indonesian subsidized biodiesel as part of measures to support European biodiesel producers.
"The Commission's in-depth investigation found that Indonesian biodiesel producers benefit from grants, tax benefits and access to raw materials below market prices.
This inflicts a threat of economic damage to EU producers," the statement said.
The Commission noted that the new import duties were imposed on a provisional basis with a possibility to impose definitive measures by mid-December.
Imports of the Indonesian biodiesel to the bloc total about $450 million per year, while the EU biodiesel market is worth an estimated $10 billion annually.
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