Green Plains Inc, one of the largest U.S. ethanol producers, on Friday said that China’s decision to slap anti-dumping duties on U.S. distillers dried grains won’t hurt business.
Beijing earlier said it would introduce anti-dumping duties of 33.8 percent on DDGS, the animal feed that is a byproduct of corn ethanol production. DDGS have become a key contributor to U.S. ethanol producers’ bottom lines.
“We still expect China to take volumes,” Todd Becker, president and chief executive officer said in an emailed statement. “With or without China …we will not be sitting on excess supplies as an industry.”
China’s Ministry of Commerce made its preliminary ruling on Friday after a months-long probe following complaints from the country’s ethanol producers that the U.S. industry was unfairly benefiting from subsidies.
Becker said the Omaha, Nebraska-based company did not participate in this case and that the amount of the duties was largely expected.
Becker added that the complaint that U.S. producers were dumping was “not founded on reality.”