EU slaps anti-subsidy duties on Indonesian biodiesel

Illustrative image (Source: Nikkei) Hanoi (VNA) – The European Union (EU) has imposed duties on imports of subsidised biodiesel from Indonesia to counter alleged subsidies to producers in the country. A European Commission 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 commission statement said. Therefore, the EU decided to impose temporary duties ranging from 8 percent to 18 percent in order to level the playing field for EU producers, but warned it could impose permanent measures by the end of the year. With 28 member countries, the EU imports 400 million EUR worth of biodiesel from Indonesia each year.-VNA