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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: regli	12/16/2005 12:53:30 AM
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Canada imposes duties on unprocessed U.S. corn ca.today.reuters.com Thu Dec 15, 2005 2:27 PM EST WINNIPEG, Manitoba (Reuters) - The Canada Border Services Agency has set a provisional anti-dumping duty of 58 U.S. cents a bushel on unprocessed grain corn imported from the United States, and a provisional countervailing duty of US$1.07 a bushel, the Canada Border Services Agency said on Thursday. The total duty will be US$1.65 on U.S. imports. The duties will be effective immediately. Unprocessed corn is imported primarily for hog and poultry feed. It can also be used to make ethanol gas. The Ontario Corn Producers' Association was one of three groups to file a complaint against corn imports last August, alleging the dumping and subsidizing of U.S. corn harms Canadian production and cuts farm incomes. The livestock industry has said it fears the duties will raise costs for feeding Canadian piglets, making it cheaper to export them to U.S. feeder barns. The Canada Border Services Agency will continue its investigation of the dumping and subsidizing of unprocessed grain corn and is set to make its final decision by March 15, 2006. The Canadian International Trade Tribunal will begin a full inquiry regarding possible injury to the Canadian industry and is set to issue a decision by April 14, 2006. ($1=$1.16 Canadian)

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