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Сельское хозяйство

EU court annuls 9.5% antidumping duty on US ethanol

Сельское хозяйство

Platts Agriculture Alert (Новости Platts о сельском хозяйстве)

EU court annuls 9.5% antidumping duty on US ethanol

Houston — A European court annulled Thursday a broad 9.5% antidumping duty on ethanol imported from the US.

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The duty was originally enacted for five years in February 2013.

"It's pretty big, it opens up Europe for [US] ethanol," one source said.

The 9.5% duty was the primary obstacle to US ethanol producers selling into Europe, the source said.

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"Today is a win for ethanol," said Michael Frohlich, spokesman for Growth Energy, an industry group that represents ethanol producers.

The duty will remain in place for two months, the time in which the European Commission may appeal the decision.

A statement from the Renewable Fuels Association said the antidumping duty was invalid as the European Commission was required by EU law to "give each sampled US company its own antidumping rate. Instead, the EC based its countrywide rate on all parties, even though the majority of them were never properly sampled."

Growth Energy and the RFA, as representatives of US ethanol producers, were the applicants of the joint complaint, which was filed in May 2013.

In 2015 the US exported more than 138 million liters of ethanol to the EU; however, the addition of the antidumping duties to ethanol exported from the US to Europe meant that the price difference between the two regions must be that much higher for the arbitrage to be workable.

The removal of the 9.5% duty could open an arbitrage from the US to Europe almost immediately, one source said.

The 2013 anti-dumping duty was created following a complaint by industry group ePure on behalf of European ethanol producers in October 2011.

--Josh Pedrick, joshua.pedrick@spglobal.com

--Sophie Byron, sophie.byron@spglobal.com