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Argentine Renewable Energies Chamber
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Argentina finished 2008 among the five largest biodiesel producers in the world and among the two largest exporters. Total industry production reached 1.07 million tons in 2008, with sales in excess of US$1.3 billion. Estimates made last October of total 2008 production of 1.2 million tons was not met because beginning that month a rapid decline in demand and pricing took effect. Some of the reasons behind this can be explained away with the softening of global economy and concurrent falling commodity prices, as well as by the decisions of the European Union that have taken measures to protect their internal markets, but which increasingly appear headed towards protectionism. This brief report analyzes market events since then and through the first quarter 2009. It addresses the decline of the global economy and how this has affected biodiesel demand and prices in Argentina.
