Brussels, July 11 (IANS): The European Commission (EC) has decided to initiate a probe to look into the factual grounds for a potential extension of duties introduced in 2009 on biodiesel imports originating in the US, a source said.
The EC is the executive body of the European Union (EU).
The investigation is initiated at the request of the European Biodiesel Board (EBB), which, representing the major biofuels producing industry in the European Union, has asked for a renewal of the anti-dumping and countervailing duties imposed on US biodiesel in 2009, Xinhua quoted the source close to the matter as saying.
EBB lodged the request at the beginning of April 2014.
According to the source, the European Commission has been provided with all of the legal grounds for initiating the investigation, which is forecast to last between 12 and 15 months.
Throughout that period, the currently applicable level of remedies, ranging from 213 euros (about 290 dollars) per tonne to 409 euros per tonne, will be maintained.
After the investigation period, the EU authorities are expected to announce whether they will extend the duties, at the same level, for another five years, as EBB requests.