The European Union has begun investigating accusations that Argentina and Indonesia are dumping biodiesel in Europe, undercutting local companies which face falling output and bankruptcies.
The European Commission said on Saturday there was enough initial evidence to show import prices were damaging the industry's viability as Indonesia and Argentina, the world's no. 1 biodiesel exporter, increase their imports and market share.
"It is alleged that the producers ... have benefited from subsidies granted by the governments of Argentina and Indonesia," the Commission said in its Official Journal.
The investigation is the latest EU measure to protect its renewables industry, putting Europe at odds with major trading partners at a time when trade is one of the few sources of economic growth for the region struggling with a debt crisis.
uk.reuters.com»
The European Commission said on Saturday there was enough initial evidence to show import prices were damaging the industry's viability as Indonesia and Argentina, the world's no. 1 biodiesel exporter, increase their imports and market share.
"It is alleged that the producers ... have benefited from subsidies granted by the governments of Argentina and Indonesia," the Commission said in its Official Journal.
The investigation is the latest EU measure to protect its renewables industry, putting Europe at odds with major trading partners at a time when trade is one of the few sources of economic growth for the region struggling with a debt crisis.
uk.reuters.com»