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 United States, a source told Xinhua on Thursday.
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 U.S. biodiesel in 2009, according to the source close to the matter.
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 (290 U.S. dollars) per tonne to 409 euros per tonne, will be maintained.
At the end of 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, according to the source.