05 July 2011 23:53 [Source: ICIS news]
PORTO ALEGRE, Brazil (ICIS)--Europe's biodiesel market has enough room for imports from Brazil as well as Argentina, an executive of a Brazilian biodiesel producer said on Tuesday.
Currently, Argentina is the top South American exporter of biodiesel to Europe.
Many countries have increased the amount of biodiesel they are blending into their fuel, said Ailton Braga Rodrigues, president of BioVerde, a Brazilian biodiesel producer that is eyeing European markets.
As a result, demand for biodiesel is exceeding production levels.
"Argentina alone cannot meet the higher demand for biodiesel," he said.
BioVerde is building a plant in Sorocaba, which will have a capacity of 400,000m3/year of biodiesel and which is scheduled to start in December.
With a facility in Taubate, which produces 181,000m3/year of biodiesel, BioVerde will be the largest biodiesel producer in Brazil, with a total capacity of 581,000m3/year.
Because of its soybean acreage, Brazil has a massive potential to add new biodiesel capacity, Rodrigues said, citing a study made by Fundacao Getulio Vargas (FGV). "No country in the world has this capacity".
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