Last update: 09.07.2011
Despite global hiccups, Argentine biodiesel booms
Source : marketwatch.com
While high costs have shuttered biodiesel plants in many parts of the world, output of the fuel in Argentina is soaring thanks to government incentives, strong export demand and readily available supplies of soybeans that carpet the country's vast farming belt. According to Argentina's Rosario Grain Exchange, the country's biodiesel production is expected to rise 24% on the year to 3.1 million metric tons in 2011. The exchange has forecast sales of more than $2.8 billion this year, divided equally between exports and the domestic market Last year, 1.3 million metric tons were sold overseas, virtually all to Europe, making Argentina the world's top biodiesel exporter and the No. 4 producer. Local biodiesel makers are betting that mandatory fuel blending requirements in many countries will underpin demand.
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26 April 2011 |
South & Latin America
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Articles from 26 April 2011 (27 articles)
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