Argentina boosts biodiesel price 25% on back of soaring soy prices

In Argentina, Uno Santa Fe reports that last Friday the chambers of the biodiesel industry met with the National Energy Secretariat to agree on a new price for biodiesel, a whopping 25% for April. The price increase was set for publication in the official gazette on Monday. The massive price increase is to reflect higher soybean prices resulting from the Russian invasion of Ukraine that has impacted nearly all commodities significantly. Prices will gradually increase through August with a 5% blending level, although the chambers are calling for that level to increase to 10%.