Argentina poised to almost double biodiesel output in 2010
(ADPnews) - Nov 9, 2010 - Argentina will boost its biodiesel output to two million tonnes in 2010 from 1.1 million tonnes in 2009, according to estimates of local biofuel association AABH.
Argentina's biodiesel exports will grow 36% year-on-year to 1.5 million tonnes which implies nearly USD 1.3 billion (EUR 933.5m) revenues for this year.
The domestic biodiesel market is also growing, stimulated by the recent increase of the biodiesel content in the mandatory blend of diesel with biodiesel to 7% from 5%. With the increase Argentina's biodiesel consumption is expected to grow to 1.1 million tonnes in 2011 from 500,000 tonnes in 2010.
In 2011, Argentina is expected to further increase the biodiesel content to 10%.
The country will also increase its biodiesel production capacity by one million tonnes to 3.5 million tonnes in 2011, AABH's head, Claudio Molina, forecasts.
(USD 1.0 = EUR 0.718)