Biodiesel exports from Argentina came to a complete standstill in the corona crisis.
Last year, the EU imported around 1 million tons of biodiesel worth $ 775 million from the South American country. The EU had offered Argentina an import quota for this. The demand for biodiesel in the EU collapsed during the corona crisis. Worldwide, less fuel is now being used and the biodiesel industry in Argentina, which has raised $ 1.7 billion annually in biofuels, is now paralyzed.
Exports have now been stopped completely. The EU is currently the only buyer anyway. Argentina is one of the top exporters in the world and is even the No. 1 for soybean oil. A large soybean crop is currently being harvested in the pampas.
Last year the country exported around 1 million tons of biodiesel, which went almost exclusively to Europe. A WTO court decision is now pending to determine whether the United States can get away with its high punitive tariffs on biodiesel. The pandemic is also delaying the verdict.
Source
Hansa Terminhandel GmbH
