The Peruvian competition regulator Indecopi has announced the upcoming introduction of anti-dumping tariffs on imports of biodiesel from Argentina. The measure will be applied for a period of five years, with different rates depending on the company (from US$134.7/tonne for biodiesel supplied by the Argentine subsidiaries of Bunge, Cargill and Noble to US$191.6/tonne for biodiesel supplied by Louis Dreyfus).
In 2009 and 2013, the European Union imposed tariffs on biodiesel imports from Argentina (Spain had also introduced sanctions against Argentina's biofuels in 2012 following the nationalisation of YPF). These tariffs were considered by the World Trade Organisation (WTO) as protectionist measures, prompting the EU to annul the tariffs in September 2016.
This Peruvian announcement may have a limited impact on Argentina's biodiesel exports, which are mainly directed to the United States (over 75%). Argentina expects to raise biodiesel exports by up to 80% in 2016 to 1.4 Mt, as exports soared to 590 kt in the first half of 2016, compared to 800 kt in 2015.