Spot ethanol prices could see further decline in demand after a panel of the European Commission on Wednesday backed a proposal to impose a 9.6% anti-dumping duty on United States ethanol being shipped to Europe.
The EC decision follows a complaint filed last year by European ethanol producers who claimed they had to sell at discounted prices in order to compete with "cheap and subsidized" U.S. ethanol imports.
U.S. ethanol producers oppose the duty, arguing U.S. ethanol subsidies ended last year. It comes as analysts say incremental demand for U.S. ethanol will come from overseas markets like Europe.
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