EU to probe alleged US biodiesel dumping - AFP

12 June 2008 23:24  [Source: ICIS news]

HOUSTON (ICIS news)--The EU will start an anti-dumping and subsidy investigation into biodiesel imports from the US, sources told the Agence France-Presse (AFP) news agency on Thursday.

The European Commission will reportedly look at the tax credits and grants the US gives to biodiesel producers to finance increased production capacity. An unnamed source told the AFP that complaints from the European Biodiesel Board (EBB) fulfilled the requirements of the union’s regulations.

The move comes after the EBB complained in April that US biodiesel exports, aided by subsidies of up to $300/tonne (€192/tonne), were flooding the European market.

US biodiesel producers depend on European demand to offset a lacklustre domestic market. About 60% of US biodiesel is sold overseas, market sources said.  

A formal EU announcement was expected for Friday.

($1=€0.64)

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By: Ben Lefebvre
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