Argentina’s Molinos Agro buys 33% of competitor Patagonia Bioenergia

In Argentina, Platts reports that Molinos Agro has bought a 33% stake in Patagonia Bioenergia likely in order to help it finance expansion from its current 250,000 mt/year of production capacity. Local press reports that Molinos Agro has been working with the company since 2011, including providing financing and know-how. Both companies have biodiesel facilities located in the San Lorenza are of Santa Fe, the key soybean and biodiesel region. The move comes amidst challenges in the industry with major export markets in the US and Peru closed as well as Europe likely to close again.