Argentina raises biodiesel price 17% to compensate for peso devaluation

In Argentina, Mercopress reports that the energy ministry raised biodiesel prices by 17% to $710.70 per metric ton as of September 1 to help compensate for the peso’s 16% devaluation the end of August. So far this year, the currency has lost 50% of its value against the dollar. The ministry said the price increase also reflects that change in soy oil export duties. Argentina currently mandates a 10% biodiesel blend which led to 1.17 million tons of biodiesel consumption last year.