Argentine biodiesel producers still not viable after 20% price increase

In Argentina, the Clarin newspaper reports that after 27 biofuel factories suspended their operations due to the low price received for their production, the national government on Wednesday ordered 20% price increase for biodiesel made from soybeans.

The 20 percent increase was set by the National Secretariat of Energy through Resolution 694/2023 published on Wednesday in the Official Gazette, but according to the Chamber of Regional Biofuels Manufacturing SMEs (Cepreb), it is insufficient since “it doesn’t even cover devaluation,” said Federico Martelli, Cepreb’s executive director.

Biodiesel manufacturers asked for an increase of 30 percent. “The truth is that with this price we lose money,” they said from one of the producing companies.