EU Demand for Palm, Rapeseed Oil Gains on Biodiesel Import Curbs

European Union demand for biofuel ingredients including palm oil and rapeseed oil is increasing as the bloc boosts domestic production and cuts imports of finished biodiesel, Oil World said.

Biodiesel production is climbing within the EU as the bloc implements duties on imports from Argentina and Indonesia, the Hamburg-based researcher said. The EU imported 494,000 metric tons of biodiesel from Argentina this year, down from 1.273 million tons in the first 10 months of 2012, Oil World said. Anti-dumping duties may go into effect at the end of November, ranging from 217 to 246 euros ($299 to $339) a ton on Argentine biodiesel and 122 to 179 euros a ton on supplies from Indonesia, it said. Provisional tariffs have been in place since May.