EU: Second antitrust probe started with raids on bioethanol firms

The European Union started a second antitrust probe into pricing of bioethanol, adding to an earlier case into possible rigging of fuel-price benchmarks.

The European Commission said its officials inspected companies active in the “production or trading of bioethanol” on suspicions they violated EU competition rules. Last month’s raids took place about the same time as another surprise visit in the benchmarks case.

“The investigation should clarify the facts concerning the possible participation by producers or traders of bioethanol in agreements or concerted practices aimed at fixing prices or sharing markets and customers,” commission spokesman Ricardo Cardoso said in an e-mail.

The case adds pressure on an industry already embroiled in the EU’s probe into manipulation of fuel-price benchmarks, including bioethanol.

In the latest raids, the commission also carried out an unannounced inspection in Spain at the premises of a company active in the production, distribution and trading of ethanol as part of the benchmarks probe, Cardoso said.

Full Content: The Economic Times

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