The European Union re-imposed a tariff on a liquid nitrogen fertilizer made by Russia’s OAO Acron (AKRN), ending a nine-month suspension linked to a review of whether the company unfairly undercut competitors in the bloc.
The EU re-applied the duty of 20.11 euros ($28.90) a metric ton on Acron’s solutions of urea and ammonium nitrate. The bloc imposed duties up to that level on all Russian producers in 2000 and prolonged the measures for five years in December 2006 to help European manufacturers such as Yara International ASA (YAR) counter below-cost, or “dumped,” imports.
In March this year, the EU suspended the levy on Acron because the company qualified as a “new exporter.” Acron didn’t export the farm product to the EU during a period in 1998-1999 used to calculate the levies originally, prompting a new probe into possible dumping by the company.
The EU should re-impose the duty on Acron “at the level of the injury margin found in the original investigation,” the bloc’s national governments said in a decision today in Brussels. The levy will be re-applied retroactively from the date of the suspension after the decision is published in the Official Journal within days.
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