Dept of Commerce: Lower Duties for Fertilizer from Russia, Higher for Morocco
Countervailing duties applied to U.S. imports of Russian phosphate fertilizer could soon fall from 28.5% to 18.83% if an April 29 preliminary determination stands in a final verdict due in the fall. Meanwhile, imports from Morocco’s mostly state-owned phosphate mining company could increase from 2.12% to 14.21%, according to a separate preliminary determination.
Released late last week, the Department of Commerce examined subsidies received in 2022 by Russian company, Apatit, and Moroccan company, OCP, and found the companies had benefitted from purchases of natural gas and mining rights priced below market rates, tax perks for mining and export operations, regional development programs, low-interest government loans and exclusions of export revenue from tax obligations.
Commerce will publish its calculations for the proposed subsidy rates within five days of the preliminary decisions’ publication in the Federal Register. A final determination is expected in October or November of this year.
Released late last week, the Department of Commerce examined subsidies received in 2022 by Russian company, Apatit, and Moroccan company, OCP, and found the companies had benefitted from purchases of natural gas and mining rights priced below market rates, tax perks for mining and export operations, regional development programs, low-interest government loans and exclusions of export revenue from tax obligations.
Commerce will publish its calculations for the proposed subsidy rates within five days of the preliminary decisions’ publication in the Federal Register. A final determination is expected in October or November of this year.