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01 March 2007   KMC hit by protective duty on native potato starch

As of February 2007 the Chinese authorities have imposed a protective duty on KMC and other European potato starch producers. The Chinese customers now have to pay a duty of 50% (15% regular duty and 35% protective duty), which in reality precludes export to China.

The duty has been imposed at the initiative of the Chinese starch industry’s trade organization that has asked the Chinese government to impose additional duty to protect the unprofitable Chinese starch industry.



 

 


We feel deeply frustrated and disappointed, Uffe Andreasen, KMC CEO states. We have worked in China for more than 10 years and through our 2 joint venture companies we have secured potatoes as the main source of income for more than 20,000 Chinese farmers.

Many Chinese province ministers, party secretaries, mayors, and senior officials have often invited KMC to cooperate in China.

Until KMC again feels confident about Chinese law-making all further activity in the market is shelved.


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