LIMA, Oct 26 (Reuters) - Peru will place anti-dumping tariffs on imports of biodiesel from Argentina for a period of five years, after complaints of unfair competition, the Andean country’s market regulator said on Wednesday.
Peru, the second-largest export market for Argentine biodiesel, passed the measure “to prevent the imports of the biofuel to continue harming national production,” said the competition regulator Indecopi.
Under the rule, different companies will be charged different rates, with the Argentine subsidiaries of Cargill, Bunge and Noble being charged $134.70 per tonne, $141.40 per tonne, and $152.70 per tonne, respectively. Louis Dreyfus, along with others, will be charged the highest rate of $191.60.
The Argentine Biofuels Chamber called the rule a “protectionist measure against the World Trade Organization’s (WTO) international norms” and said it would take legal action to force the Peruvian government to reverse its decision.
“We are the main supplier of biodiesel for Peruvian transport, and this unjustified decision will have consequences for their economy since domestic prices for fuel will rise,” said Luis Zubizarreta, the group’s president.
In September, a European Union court annulled anti-dumping tariffs the bloc had applied to Argentine biodiesel imports, after the WTO ruled in favor of the South American country, calling the measures protectionist. (Reporting by Ursula Scollo; Editing by Alistair Bell)