The United States Department of Commerce (DoC) raised the already punitive countervailing duty (CVD) rates on Argentinian biodiesel imports Thursday, deflating the South American country’s hopes of reopening the flow of biodiesel to the world’s largest biofuels market.
In its final CVD determinations, the DoC confirmed its preliminary ruling that the Argentinian government had subsidized its biodiesel at uncompetitive levels. Moreover, the DoC elevated the preliminary determinations from between 50.29 and 64.17% to between 71.45 and 12.28% in the final ruling. Simultaneously, the DoC also lowered the preliminary CVDs on Indonesian biodiesel imports from between 41.06 to 68.28% to between 34.45 and 64.73%.
The International Trade Commission is now scheduled to make its final determination on the CVDs on or around 26 December.
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