AreaArgentina

Commodity GroupBiofuels

CommoditySoy-based biodiesel

Date01/01/2021

Policy CategoryRenewable energy

Policy InstrumentBioenergy policies

DescriptionResponding to sharp rises in international and local soybean prices, raised the price that refiners are required to pay for soy-based biodiesel and lowered – for the period January–March 2021 – the mandatory biodiesel blending rate applied to transport diesel.

NotesARGENTINA – biofuel policy: In January, sharply rising prices of soybeans (– the main feedstock used by local biodiesel manufacturers –) and prospective rises in domestic mineral oil/gas supplies, prompted the Energy Ministry to i) raise the biodiesel price that oil refiners are required to pay, and ii) temporarily lower the 10 percent biodiesel blending obligation applied to transport diesel. In the months of January, February and March, refiners were required to supply blends of, respectively, 5 percent, 6.75 percent and 8.4 percent, before mandatory blending would return to 10 percent in April 2021.