Buenos Aires, 28 december 2011

Argentine biodiesel exports rose more than 58 percent to $1.9 billion in 2011 compared with the year before, the country's main biodiesel industry group has announced. In volume terms, biodiesel exports from the South American country shot 18.5 percent higher to 1.6 million tonnes, according to a statement from the Argentine Biofuels Chamber, or CARBIO, as it is known by its Spanish initials.

Argentina is the world's top biodiesel exporter. The fuel is made with soyoil, which is produced in abundance in the agricultural powerhouse.

"In 2011 new plants were built and expansion projects were begun," the statement said, "which will bring Argentine production capacity to close to 3.2 million tonnes in 2012."

It said the country will have produced 2.4 million tonnes of biodiesel in full-year 2011. All regular diesel sold in Argentina must contain 7 percent biodiesel, a level that industry leaders want the government to increase to 10 percent.

Argentine farmers are close to finishing the planting of their 2011/12 soy. Agriculture Ministry authorities say the crop could come in at between 52 million and 53 million tonnes.

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