To settle a long-running trade dispute over imports of the product into the European Union, Brussels is willing to accept a deal for Argentine biodiesel. On January 14, the European Commission said it had communicated this proposal – undertakings from producers which they would sell at a minimum price – to interested parties.

“This would exclude these producers from possible anti-subsidy duties to be imposed by the European Commission, while restoring the level playing field for European producers,” a Commission spokesperson told Reuters by email on January 14.

Those interested parties have until January 18 to comment on the proposal, with EU countries due to be consulted on the issue on January 30. The deadline for definite duties, which are typically in place for five years, is February 28.

According to Reuters, a lawyer representing one of the parties in the case said the Commission had not made clear what the minimum price would be, nor what potential volume would be allowed in.

For Argentine biodiesel, the Commission has proposed duties of between 25% and 33.4% depending on the companies, a document seen by Reuters in December showed.

“We would be willing to settle for a minimum value,” said Luis Zubizarreta, president of the Argentine Chamber of Biofuels (CARBIO). “There is a good dialogue (with the EU) and it seems like the way to benefit everyone,” Zubizarreta added.