Argentine biodiesel industry says U.S. duties will halt exports
The countervailing duties on soy-based Argentina biodiesel could be as much as 64.17 percent, according to a statement from the U.S. Commerce Department. Duties of up to 68.28 percent will be imposed on palm oil biodiesel imports from Indonesia.
"Any duty of more than 15 percent leaves Argentine biodiesel out of the market," an Argentine biofuels industry source said.
Argentina accounts for two-thirds of U.S. biodiesel imports, which totaled 916 million gallons (3.5 billion liters) in 2016, according to U.S. government data. Total U.S. biodiesel consumption is about 2 billion gallons. ■