Bayer subsidiary Ruveon has withdrawn petitions seeking antidumping and countervailing duties on glyphosate imported from China after opposition from major U.S. commodity groups. The National Corn Growers Association welcomed the decision Friday, saying additional duties could have increased herbicide costs for farmers already facing weak commodity prices and elevated production expenses. Monsanto and Ruveon filed the petitions June 30 with the Commerce Department and U.S. International Trade Commission. They alleged Chinese glyphosate was sold below fair value and benefited from government subsidies. Proposed dumping margins ranged from 68.9% to 446.47%. Bayer, the only U.S. glyphosate producer, had said the action was needed to counter unfair trade and sustain domestic production. Corn, soybean and wheat organizations argued that duties would reduce competition and raise prices for a widely used weed-control product. NCGA President Jed Bower urged agricultural suppliers to consult farmers before pursuing actions that could increase input costs.
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