ADM Praises ITC for Preliminary Vote in Favor of Countervailing and Antidumping Duties on Imported Biodiesel
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) today praised the International Trade Commission after it voted to advance an investigation into biodiesel exports from Argentina and Indonesia.
“As one of the petitioners on this important industry initiative, we are pleased to see that the ITC has taken the first step toward imposing countervailing and antidumping duties on biodiesel imported from Argentina and Indonesia,” said Ray Bradbury, president of risk management for ADM’s Corn Processing business and president, North America biodiesel. “The facts clearly show that Argentina and Indonesia are engaging in unfair trade practices, and we are confident that duties will be imposed when the final decision is made.
“This process exists to prevent export practices that injure workers in the importing countries—in this case, the United States. American farmers, American workers and American biodiesel can and should have a free and fair playing field."
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with approximately 32,000 employees serving customers in more than 160 countries. With a global value chain that includes approximately 500 crop procurement locations, 250 ingredient manufacturing facilities, 38 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company