20 August 2009 21:58 [Source: ICIS news]
HOUSTON (ICIS news)--Argentine biodiesel exports jumped 48% from June to July, largely due to the more than doubling of shipments to the Netherlands, a South American shipping firm said on Thursday.
Biodiesel shipments from three ports in Argentina totalled 137,950 tonnes in July, compared with 93,113 tonnes in June, according to data from Blue Star.
The Netherlands has been by far the largest importer of Argentine-produced biodiesel this year, importing 387,667 tonnes or nearly 72% of all the South American country's product.
The European nation took 109,150 tonnes in July, more than doubling 54,000 tonnes it imported in June.
The European Union's tariff on US-made biodiesel has been a boon for Argentina, with 75% of its biodiesel exports this year coming after passage of the tax in March.
The US, which subsidises biodiesel production, was the largest importer of Argentina's product before the tariff but now ranks a distant third, importing 17,800 tonnes or 3% of the South American country's product, according to the report.
Spain ranks second, with 94,161 tonnes imported this year, accounting for 17% of Argentina's biodiesel exports.
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