August 1, 2007

South Korea drops dumping claim against Argentine soyoil

South Korea has abandoned an antidumping investigation into soybean oil imports from Argentina, Argentina's Foreign Office said Tuesday (July 31).

The probe was initiated against Argentina, Brazil and the US in October by a South Korean association of soyoil processing companies.

After the investigation, Korea determined that Argentine soyoil companies were not in violation of anti-dumping laws, the Foreign Office said in a release.

Argentina sold 163,685 tonnes of soyoil to South Korea last year, according to the Agriculture Secretariat.