EU regulators raid bioethanol firms

EU antitrust regulators have raided a number of bioethanol companies over alleged price-fixing concerns. The European Commission today announced it undertook “unannounced inspections” last month over concerns they may have […]

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By Priyanka Shrestha

EU antitrust regulators have raided a number of bioethanol companies over alleged price-fixing concerns.

The European Commission today announced it undertook “unannounced inspections” last month over concerns they may have violated EU antitrust rules “that prohibit cartels and restrictive business practices”.

The products concerned are bioethanol used as a biofuel additive in the production of petrochemical fuels or as an ingredient used in the production of beverages, pharmaceutical products or cosmetics.

“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,” the Commission stated.

It hasn’t however revealed the names of companies.

In a separate investigation, the Commission also carried out a raid in Spain at the premises of a company active in the production, distribution and trading of ethanol, a biofuel.

The case follows a raid in the biofuel sector last November.