China’s biodiesel exports drop 43.70 per cent year on year
China’s biodiesel exports fell by 43.70% year-on-year to 661,600 tonnes in H1 2024, mainly due to a European Commission anti-dumping investigation. The EU imposed temporary tariffs of 12.8% to 36.4%, affecting Chinese exports. Despite this, the EU remained the top destination, with the Netherlands, Belgium, and Spain being key markets. The outlook for the second half of 2024 suggests further declines in exports due to continued tariff impacts.
According to the General Administration of Customs of the People’s Republic of China (GACC), China’s biodiesel exports fell by 43.70% year-on-year, totaling 661,600 tonnes in the first half of 2024.
This decline was largely due to the European Commission’s anti-dumping investigation, which began on December 20, 2023, and concluded on July 19, 2024, resulting in a temporary tariff of 12.8% to 36.4% on Chinese biodiesel exports.
Despite the drop in overall exports, the European Union remained the primary destination for China’s biodiesel. The Netherlands, Belgium, and Spain accounted for 74.58%, 7.87%, and 1.95% of China’s total biodiesel exports, respectively, according to GACC data.
Looking ahead, China’s biodiesel exports are expected to decline further in the second half of the year, as the EU’s new tariffs will render domestic products less competitive in the European market.
Source Link : https://bioenergytimes.com/chinas-biodiesel-exports-drop-43-70-per-cent-year-on-year/
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