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Argentina raises ethanol prices for oil refiners in July

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Argentina raises ethanol prices for oil refiners in July

Highlights

Argentina's Energy Secretariat said Monday it increased ethanol prices by as much as 5% in July for oil refiners to blend into gasoline.

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Refiners must pay 9.437 pesos ($1.04) per liter for supplies of sugarcane-derived ethanol this month to meet a 10% blend requirement in gasoline, the secretariat said on its website.

That is up 5% from 8.987 pesos per liter in June.

Corn-based ethanol was raised to 7.171 pesos per liter in July, or 2% more than the 7.032 pesos in June, the secretariat added.


In September, the secretariat said it wouldn't allow ethanol prices to fluctuate by more than 5% per month, a move that ethanol producers have said could hurt profits as inflation runs fast.

Inflation is 30% annual this year, according to private estimates compiled by opposition lawmakers.

The biggest oil refiner is state-run YPF, trailed by Bridas' Axion Energy, Shell, Oil Combustibles and Petrobras.

Ethanol production rose 55% to 64,599 mt in March from 41,799 mt in the year-earlier period, and went up 25% compared with 51,625 mt in February, according to the latest numbers of the national statistics institute Indec.

Ethanol consumption rose 30% to 68,105 mt in March from 52,301 mt in March 2014, and was up 10% compared with 61,674 mt in February.

--Charles Newbery, newsdesk@platts.com
--Edited by Alisdair Bowles, alisdair.bowles@platts.com