06 June 2012 17:32 [Source: ICIS news]
BUENOS AIRES (ICIS)--Argentina greatly increased its first-quarter biodiesel production from the same period last year as a result of new plants, expansions and compulsory use of biofuels, an industry representative said on Wednesday.
Argentine biodiesel production totalled 693,121 tonnes in the first quarter, according to the National Institute of Statistics and Census (INDEC), up by more than 44% from the same period in 2011.
INDEC said 445,000 tonnes of the first-quarter biodiesel was destined for exports.
The exports amounted to $554m (€443m) in sales, INDEC estimated.
A source with the Biofuels Argentine Chamber (CARBIO) said the first-quarter increase was partly generated by new plants, such as the ones inaugurated in October by Latin Bio and Enresa. CARBIO said Cargill also inaugurated a 300,000 tonne/year biodiesel plant in Argentina.
In 2011, there were also increases in the nameplate capacity of existing facilities.
CARBIO indicated another factor, compliance by local oil companies with Argentina’s requirement for 7% biodiesel in fuel mixes, which has helped stabilise domestic demand.
The Spanish government announced it would prioritise biodiesel imports from European markets after Argentina expropriated the stock that Spanish company Repsol had in the Argentine oil company YPF.
($1 = €0.80)
By Paula Krizanovic
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