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Chinese DDGS March imports drop 44% on month, 85% on year-ago month: customs data

Houston — Chinese imports of dried distillers grains dropped 44% month on month to 1,920 mt in March from 3,466 mt in February, Chinese Customs Information Center data showed Thursday.

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March's imports had a total value of $431,885, according to the customs agency data, down 47% from $821,801 in February.

Imports dropped 85% by volume and 84% by value compared with March 2018's 12,893 mt and $2.775 million, the data shows.

Chinese DDGS imports in the first three months of 2019 totaled 15,552 mt, down 38% compared with 25,093 mt in the year-ago period.

For March, all imports came from the US.

China used to be the largest buyer of US DDGS, but in September 2016, it imposed a preliminary 33.8% antidumping duty on US DDGS. It then announced a preliminary anti-subsidy tariff of 10%-10.7%.

China announced its final rule in January 2017, increasing antidumping duties to 42.2%-53.7% and its anti-subsidy duties to 11.2%-12%.

China removed its 11% value-added tax on imported DDGS in November 20 2017, but antidumping and anti-subsidy duties are still in place.

China has not added import tariffs on US DDGS as retaliation for US tariffs on Chinese goods.

Market participants are expecting China will remove its antidumping duties as an outcome of the current US-China trade talks.

DDGS are a co-product of ethanol production and are used for livestock feed in domestic and foreign feedlots.

-- Sergio Alvarado, sergio.alvarado@spglobal.com

-- Edited by Derek Sands, newsdesk@spglobal.com