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Argentina hikes biodiesel prices 1.9%, cuts export tax in October

Buenos Aires — Argentina's Energy Ministry said Monday it had raised biodiesel prices by 1.9% in October from September, while also cutting the fuel additive's export tax rate.

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The moves increases the prices oil refiners must pay for biodiesel supplies to meet a 10% blend requirement in diesel.

The ministry also reduced the export tax rate for biodiesel to 0% in October from 0.13% in September, according to a data report.

For large integrated biodiesel producers, the price went up to Pesos 12,347/mt ($707.41) in October from September. For large non-integrated producers, the price was raised to Pesos 14,183/mt over the same period, while the prices small and medium producers can charge were increased to Pesos 15,722/mt and 15,919/mt respectively, the ministry said.

Argentina biodiesel price data in October (pesos/mt)

Source: Energy Ministry

--Charles Newbery, newsdesk@spglobal.com

--Edited by Jonathan Loades-Carter, jonathan.carter@spglobal.com