EU prolongs Russia, Ukraine, Belarus, Algeria fertilizer duties
The European Union extended for five more years tariffs on a liquid nitrogen fertilizer from Russia, Ukraine, Belarus and Algeria to protect producers including Yara International ASA and Grande Paroisse SA from cheaper imports.
The EU duties of as much as €26.17 ($34.48) a metric ton on solutions of urea and ammonium nitrate punish exporters in the four countries for selling in Europe below domestic prices or below the production cost, a practice known as dumping. The EU said farmers, who use the product, would be able to cope. „The continuation of measures would not adversely affect the financial interests of the users,” the 25-nation EU said in a decision taken in Brussels and published today in the Official Journal. Solutions of urea and ammonium nitrate represent „a very small part of total production costs for these farmers.”
The EU duties per ton amount to €26.17 on Ukraine, as much as €20.11 on Russia, €17.86 on Belarus and €6.88 on Algeria. One exporter in Algeria - Fertalge Industries - will be exempted in return for respecting minimum prices. Russia and Ukraine face European tariffs on other forms of nitrogen fertilizer. In April 2002, the EU imposed a five-year anti-dumping duty of €47.07 a ton on Russian ammonium nitrate and in January 2001, it applied a five-year anti-dumping duty of €33.25 a ton on imports of this product from Ukraine. In January this year, the EU prevented the measure against Ukraine from lapsing as the bloc began a 15-month review of whether to prolong the levy for another five years. These measures protect producers including BASF AG and Kemira Oyj as well as Grande Paroisse and Yara International, an Oslo-based manufacturer with operations in the EU. (Bloomberg)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.