Chinese biodiesel producers are seeking new outlets in Asia for their exports and exploring producing other biofuels as supply to the European Union, their biggest buyer, dries up ahead of anti-dumping tariffs, biofuel executives and analysts said.
The EU will impose provisional anti-dumping duties of between 12.8 per cent and 36.4 per cent on Chinese biodiesel, hitting over 40 companies including leading producers Zhejiang Jiaao, Henan Junheng and Longyan Zhuoyue Group in an export business that was worth $2.3 billion last year.
Some larger producers are eyeing the marine fuel market in China and Singapore, the world's top marine fuel hub, as they seek to offset already falling biodiesel exports to the EU, biofuel executives said.
Exports to the bloc have fallen sharply since mid-2023 amid investigations. Volumes in the first six months of this year plunged 51 per cent from a year earlier to 567,440 tons, Chinese customs data showed.
June shipments shrank to just over 50,000 tons, the lowest since mid-2019, according to customs data.
