European Union member states agreed to impose punitive duties on imports of biodiesel from Argentina and Indonesia, which are accused of selling it into the bloc at unfairly low prices, according to diplomats. Argentina has anticipated it will take the case to the World Trade Organization.
Soybean processing and exports from the US, Argentina and Brazil, the largest shippers, were below expectations in the second quarter on reduced Chinese imports and competition from palm oil, Oil World said in a Tuesday released report.