Argentine exports of soyaoil-based biodiesel fall: Oil World

Argentine exports of soyaoil-based biodiesel are falling sharply largely because of trade friction with the European Union and Argentina is instead exporting more soyaoil, Hamburg-based oilseeds analysts Oil World said on Tuesday. "Exports of biodiesel are plummeting owing to reluctance from EU importers, Oil World said.
Uncertainty caused by trade disputes between the EU and Argentina has reduced EU buying, it said. Europeans say Argentina is dumping biodiesel in the region but the south American country has lodged protests that the EU is wrongly curbing biodiesel imports. "Total Argentine biodiesel exports almost halved from a year earlier to an estimated 155,000 tonnes in January-February 2013," Oil World said.
Shipments of Argentine biodiesel to the EU slumped to only 36,000 tonnes in February 2013 against 145,000 tonnes in February 2012, Oil World said. Shipments to the EU are likely to remain low in March, possibly well under February at 20,000 to 30,000 tonnes, Oil World forecast. Plummeting exports have also caused a sharp reduction in production of Argentine biodiesel, Oil World said.
"Due to the sharp decline in biodiesel production, for which soyaoil is almost the only feedstock, Argentine export supplies of soyaoil were larger than expected," it said. Oil World estimates Argentina's soyaoil exports rose to 230,000 tonnes in February this year from 150,000 tonnes in January. Among leading customers in February was Iran, which took 32,000 tonnes of Argentine soyaoil, up from 15,000 tonnes in January.