JM Innovations

National & World Ag News Headlines
Argentina Hikes Biodiesel Price for Domestic Market
USAgNet - 12/02/2022

Argentina's government hiked the price of biodiesel - made in the country from soybean oil - for domestic consumption, aiming to keep its price just below the current high inflation rate.

According to Reuters, Argentina, the world's largest exporter of soybean oil, has for years fixed the retail price of biofuels that are mixed with gasoline - with diesel in the case of biodiesel. The South American country is also an important biofuels producer.

The Ministry of Economy's energy secretariat retroactively established a value of 242,000 pesos ($1,449) per tonne of biodiesel sold from Nov. 15-30, from a previous price of 220,000 pesos, according to the country's official gazette.

The value of biodiesel will be adjusted in subsequent months by 4% per month, in line with price guidelines the government seeks to replicate throughout the economy to tame inflation, which in October stood at 6.3% and could reach 100% this year.

Other National Headlines
Sturdy-Built Fabrication
U.S. Custom Harvesters, Inc.
Copyright © 2023 - All Rights Reserved.