Anti-subsidy duties on feed ingredient
China will impose anti-subsidy duties of between 10 percent and 10.7 percent on imports of a US animal feed ingredient known as distillers’ dried grains, the Commerce Ministry said in a preliminary ruling on Wednesday. The move was widely expected after the government announced a similar move on anti-dumping duties last week. As with last week’s ruling, the decision affects some of the biggest players in the US ethanol industry, including global traders Archer Daniels Midland Co and Louis Dreyfus, along with ethanol producer Poet LLC, oil refiner Valero Energy Corp and grains group Andersons Inc. of China’s maritime industry grew by seven percent last year, a government report said on Tuesday. The maritime economy generated 6.47 trillion yuan ($970 billion) in 2015, accounting for 9.4 percent of China’s total GDP last year, according to a report issued by the National Development and Reform Commission and the State Oceanic Administration. Its growth has, again, outpaced that of the country’s GDP, the report noted.