Argentinean government to amend biodiesel export levy

Biodiesel producers in Argentina were happy to hear the country will start to employ a sliding-scale on its multi-billion dollar export industry.

President Cristina Fernandez announced the modification of a recent tax levy, from 20% to 32% on biodiesel exports, as it drew strong opposition from local producers. In light of the global price plunge for biodiesel the government were seemingly forced to come up with a more flexible option.

In a speech broadcast to the nation Fernandez said: ‘Both chambers, representing small- and medium-sized producers as well as the big producers, asked for a sliding-scale that will be applied and updated every 15 days because of the constant movement in biodiesel prices.’

Last year biodiesel production in Argentina was recorded at 2.4 million metric tonnes, of which 1.7 million was exported to the tune of  $2.1 billion (€1.6 billion).