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China lowers tariff on ethanol

The Chinese Finance Ministry announced that the import tax for alcohol and other spirits denatured of any strength would be reduced to 5% from 30% as of January 1, 2010. The tariff reduction would apply to imports of ethanol fuel as well, Reuters reports. Traders say the move by the Chinese ministry could open the door for the importation of fuel ethanol. (December 18, 2009)