EU to Monitor Imports of Bioethanol Due to Recent Spike
The European Union will begin tracking bioethanol imports to allow the industry to better assess the economic impacts caused by a recent spike in imports, the European Commission said Nov. 4. The commission said bioethanol imports “significantly increased in the last months, at low prices,” and that the industry is concerned that evidence suggests that more imports would “cause economic damage” to the sector. The tracking system will provide “quick monitoring” to give the bioethanol industry “fact-based information to help them explore the need for further actions,” the EU said, but stressed the move does not impose import restrictions.
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Valdis Dombrovskis, the commission’s executive vice president and commissioner for trade, said “distortive” trade practices may have caused the increase in imports. “This is why we must closely monitor any trade developments that potentially arise from unfair competition,” he said in a statement, adding that the EU may choose to monitor other imports. The EC said that it “remains open to examining any duly supported requests.” “This is the case with bioethanol today,” Dombrovskis said, “but other industries may soon also require import surveillance so they can be better shielded from these unwelcome practices.”